By Devika Patel
Knoxville, Tenn., Dec. 23 – Forbright Inc. sold $125 million of green fixed-to-floating subordinated notes due Jan. 1, 2031, according to a press release.
Keefe, Bruyette & Woods and PNC FIG Advisory were the agents.
PNC Capital Markets LLC was the environmental, social, and governance structuring agent. Holland & Knight LLP was legal counsel to Forbright and Squire Patton Boggs (US) LLP was counsel to the agents.
Proceeds will be injected into the bank as capital and used to finance or refinance projects aimed at driving decarbonization and accelerating the shift to a more sustainable economy.
Forbright, recently rebranded from Congressional Bancshares, Inc., is the Chevy Chase, Md.-based bank holding company for Forbright Bank, with under $150 billion in consolidated total assets.
| Issuer: | Forbright Inc.
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| Issue: | Green fixed-to-floating subordinated notes
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| Amount: | $125 million
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| Maturity: | Jan. 1, 2031
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| Agents: | Keefe, Bruyette & Woods and PNC FIG Advisory
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| Announcement date: | Dec. 23
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