German American Bancorp, Inc. has announced the full redemption of its 4.5% Fixed-to-Floating Rate Subordinated Notes Due 2029.
The redemption date is set for December 30, 2025, with the company redeeming $40,000,000 in aggregate principal amount of the issued and outstanding Notes.
Holders of the Notes will receive the redemption price equal to 100% of the principal amount plus accrued interest up to the Redemption Date.
Redemption Details
The redemption price for the Notes equals 100% of the $40,000,000 aggregate principal amount being redeemed, along with accrued and unpaid interest up to the Redemption Date.
Interest Ceases to Accrue
Interest on the $40,000,000 principal amount of Notes being redeemed will cease to accrue after the Redemption Date.
Payment Process
Holders can receive the Redemption Payment by presenting and surrendering the Notes to the Trustee in its capacity as Paying Agent.
- The redemption of the subordinated notes will impact the company's balance sheet by reducing its outstanding debt obligations.
- This move reflects German American Bancorp, Inc.'s strategy to manage its debt levels and optimize its capital structure.
The full redemption of the subordinated notes demonstrates German American Bancorp, Inc.'s commitment to efficient capital management and enhancing shareholder value.