BankUnited (NYSE: BKU) retires $400M 4.875% senior notes due 2025 at par

Rhea-AI Filing Summary

BankUnited, Inc. has fully redeemed its 4.875% Senior Notes due 2025. The company paid $400,000,000 aggregate principal amount of these senior notes, plus accrued and unpaid interest, on August 22, 2025, in line with its prior notice to the trustee under the 2015 Indenture.

This transaction terminates the related debt obligation under the Indenture and removes these notes from the company’s outstanding borrowings, reflecting a significant repayment of senior debt on schedule at 100% of principal.

Positive

• Redemption of $400,000,000 4.875% Senior Notes due 2025 eliminates a sizable tranche of higher-cost term debt at scheduled maturity, which can reduce ongoing interest expense and simplify BankUnited’s capital structure, depending on how the redemption was financed.

Negative

• None.

Insights

Bank capital structure analyst

BankUnited retired $400M of senior debt at par, simplifying its liability structure.

BankUnited, Inc. redeemed all $400,000,000 of its 4.875% Senior Notes due 2025 on August 22, 2025. The notes were taken out at 100% of aggregate principal, plus accrued and unpaid interest, in accordance with the 2015 Indenture terms.

This removes a fixed 4.875% funding obligation from the balance sheet and terminates the material definitive agreement related to the notes. The net effect on liquidity, capital ratios, and future interest expense will depend on how the redemption was funded and any replacement financing, which are not detailed in this excerpt.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 22, 2025 (August 22, 2025)

BankUnited, Inc.

(Exact name of registrant as specified in its charter)

Delaware

001-35039

27-0162450

(State of Incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

14817 Oak Lane,

Miami Lakes,

FL

33016

(Address of principal executive offices)

(Zip Code)

(Registrant’s telephone number, including area code): (305) 569-2000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐                  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐                  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐                  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐                  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Class

Trading Symbol

Name of Exchange on Which Registered

Common Stock, $0.01 Par Value

BKU

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Item 1.02    Termination of Material Definitive Agreement.

As previously disclosed in its Current Report on Form 8-K filed on July 23, 2025, on July 22, 2025, BankUnited, Inc. (the “Company”) provided notice to U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association) as trustee (the “Trustee”) under that certain Indenture, dated as of November 17, 2015 (as supplemented by the First Supplemental Indenture dated November 17, 2015, the “Indenture”) by and between the Company and the Trustee, that on August 22, 2025 (the “Redemption Date”), the Company intended to redeem all $400,000,000 aggregate principal amount of the Company’s outstanding 4.875% Senior Notes due 2025 (the “Notes”) at a redemption price equal to 100% of the aggregate principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon to but excluding the Redemption Date. On August 22, 2025, the Company completed the redemption of the Notes in accordance with the terms of the Indenture at the redemption price described above.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated:			August 22, 2025			BANKUNITED, INC.
						/s/ Leslie N. Lunak
						Name:			Leslie N. Lunak
						Title:			Chief Financial Officer

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FAQ

What did BankUnited, Inc. (BKU) announce in this 8-K filing?

BankUnited, Inc. reported that it redeemed all of its 4.875% Senior Notes due 2025. The company paid $400,000,000 of aggregate principal plus accrued and unpaid interest, completing the transaction on August 22, 2025 under its existing Indenture terms.

How much debt did BankUnited (BKU) repay with the 2025 senior notes redemption?

BankUnited repaid $400,000,000 of aggregate principal from its 4.875% Senior Notes due 2025. This full redemption removed that entire note issue from its outstanding borrowings, along with the obligation to pay the 4.875% coupon going forward.

What was the redemption price for BankUnited’s 4.875% Senior Notes due 2025?

The notes were redeemed at a price equal to 100% of their aggregate principal amount. BankUnited also paid accrued and unpaid interest on the notes to, but excluding, August 22, 2025, consistent with the 2015 Indenture provisions.

When did BankUnited complete the redemption of its 4.875% Senior Notes due 2025?

BankUnited completed the redemption on August 22, 2025. The company had previously notified the trustee on July 22, 2025 of its intent to redeem the notes on that date, and then executed the repayment according to the Indenture terms.

Which debt instrument did BankUnited (BKU) terminate with this transaction?

The transaction redeemed and effectively terminated BankUnited’s 4.875% Senior Notes due 2025 issued under a November 17, 2015 Indenture. The principal amount of $400,000,000, plus applicable interest, was paid in full on the August 22, 2025 redemption date.

Why is this BankUnited (BKU) debt redemption considered a termination of a material definitive agreement?

Because the notes were issued under a binding 2015 Indenture, their full redemption ends the company’s obligations under that debt agreement. SEC rules treat the conclusion of such a significant financing contract as a termination of a material definitive agreement.