Valley National Bancorp Announces Redemption of $115,000,000 Aggregate Principal Amount of 5.25% Fixed-To-Floating Rate Subordinated Notes Due 2030
Valley National Bancorp (NASDAQ: VLY) has announced the full redemption of its 5.25% Fixed-to-Floating Rate Subordinated Notes due 2030, with an aggregate principal amount of $115 million. The redemption is scheduled for June 15, 2025, at a price of 100% of the principal amount plus accrued and unpaid interest. Interest on the Notes will cease after the redemption date.
CEO Ira Robbins highlighted that the company's strengthened balance sheet has enabled this redemption, demonstrating Valley National's financial flexibility while maintaining support for strategic initiatives.
Valley National Bancorp (NASDAQ: VLY) ha annunciato il rimborso totale delle sue Obbligazioni Subordinate a Tasso Fisso-Variabile del 5,25% con scadenza 2030, per un ammontare complessivo di 115 milioni di dollari. Il rimborso è previsto per il 15 giugno 2025, al prezzo del 100% del capitale più gli interessi maturati e non pagati. Gli interessi sulle obbligazioni cesseranno dopo la data di rimborso.
Il CEO Ira Robbins ha sottolineato che il rafforzamento del bilancio aziendale ha reso possibile questo rimborso, dimostrando la flessibilità finanziaria di Valley National pur continuando a sostenere le iniziative strategiche.
Valley National Bancorp (NASDAQ: VLY) ha anunciado el reembolso total de sus Notas Subordinadas a Tasa Fija a Variable del 5.25% con vencimiento en 2030, por un monto principal total de 115 millones de dólares. El reembolso está programado para el 15 de junio de 2025, a un precio del 100% del monto principal más los intereses acumulados y no pagados. Los intereses sobre las Notas cesarán después de la fecha de reembolso.
El CEO Ira Robbins destacó que el fortalecimiento del balance de la compañía ha permitido este reembolso, demostrando la flexibilidad financiera de Valley National mientras mantiene el apoyo a las iniciativas estratégicas.
Valley National Bancorp (NASDAQ: VLY)는 2030년 만기인 5.25% 고정-변동 금리 후순위 채권을 전액 상환한다고 발표했으며, 총 원금은 1억 1,500만 달러입니다. 상환 예정일은 2025년 6월 15일이며, 원금 100%와 미지급 이자가 포함된 금액으로 상환됩니다. 상환일 이후에는 채권에 대한 이자가 중단됩니다.
CEO 이라 로빈스는 회사의 강화된 재무구조가 이번 상환을 가능하게 했으며, Valley National의 재정적 유연성을 보여주면서도 전략적 이니셔티브에 대한 지원을 유지하고 있다고 강조했습니다.
Valley National Bancorp (NASDAQ: VLY) a annoncé le remboursement intégral de ses obligations subordonnées à taux fixe-variable de 5,25% arrivant à échéance en 2030, pour un montant total principal de 115 millions de dollars. Le remboursement est prévu pour le 15 juin 2025, au prix de 100 % du principal plus les intérêts courus et non payés. Les intérêts sur les obligations cesseront après la date de remboursement.
Le PDG Ira Robbins a souligné que le renforcement du bilan de l'entreprise avait permis ce remboursement, démontrant la flexibilité financière de Valley National tout en maintenant le soutien aux initiatives stratégiques.
Valley National Bancorp (NASDAQ: VLY) hat die vollständige Rückzahlung seiner 5,25% Fest-zu-Floating-Rate nachrangigen Schuldverschreibungen mit Fälligkeit 2030 angekündigt, mit einem Gesamtnennbetrag von 115 Millionen US-Dollar. Die Rückzahlung ist für den 15. Juni 2025 geplant und erfolgt zum Preis von 100% des Nennbetrags zuzüglich aufgelaufener und unbezahlter Zinsen. Die Zinszahlungen auf die Schuldverschreibungen enden nach dem Rückzahlungstermin.
CEO Ira Robbins betonte, dass die gestärkte Bilanz des Unternehmens diese Rückzahlung ermöglicht habe und die finanzielle Flexibilität von Valley National demonstriere, während gleichzeitig die Unterstützung strategischer Initiativen aufrechterhalten werde.
- Demonstrates financial strength and flexibility to redeem $115 million in notes
- Indicates improved balance sheet position
- Potential for improved capital efficiency
- None.
NEW YORK, May 16, 2025 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ: VLY), the holding company for Valley National Bank, today announced the redemption, in full, of its
In accordance with the terms of the Notes, the holders of the Notes will receive notice of the redemption and further instructions and details related to the process of such redemption. Interest on the Notes will cease to accrue on and after the Redemption Date, and no Notes will remain outstanding following the redemption.
Ira Robbins, Chief Executive Officer, commented, “Over the last few years we have strengthened our balance sheet which has positioned us to redeem the Notes. We are pleased to have the financial flexibility to further optimize the efficiency of our capital base while maintaining the ability to support our strategic initiatives.”
About Valley
As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with approximately
Forward-Looking Statements
The foregoing contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management’s expectations with respect to the redemption. Such forward-looking statements involve certain risks and uncertainties. Actual outcomes may differ materially from such forward-looking statements. Factors that may cause actual outcomes to differ materially from those contemplated by such forward-looking statements are included in Valley’s filings with the Securities and Exchange Commission, including Part I, Item 1A “Risk Factors” of Valley’s Annual Report on Form 10-K for the year ended December 31, 2024. Valley undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in its expectations, except as required by law. Although Valley believes that the expectations reflected in the forward-looking statements are reasonable, future results, levels of activity, performance and achievements cannot be guaranteed.
| Contact: | Travis Lan |
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