Heartland seeks $75M in 5-year bond offer

Sun, 31 Mar 2019

By Paul McBeth April 1 (BusinessDesk) - Heartland Group's banking subsidiary is seeking $75 million through a five-year bond offer and will pay at least 3.5 percent annual interest. The listed financial services firm's licensed banking unit, Heartland Bank, today opened an offer for five-year unsecured, unsubordinated fixed-rate notes. The issue margin above the five-year swap rate, expected to lie between 1.75 and 1.9 percent, will be set in a bookbuild on April 5. At today's five-year swap rate of 1.7525 percent, that implies annua...

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