OceanFirst Financial Prices $185 Million Subordinated Notes Offering
OceanFirst Financial Corporation has priced a public offering of $185 million in 6.375% Fixed-to-Floating Rate Subordinated Notes due 2035. The notes will accrue interest at 6.375% until November 15, 2030, then switch to a floating rate. The offering is expected to close on October 29, 2025, with net proceeds of approximately $181.9 million to be used for debt repayment, growth initiatives, and general corporate purposes.
OceanFirst Financial Corporation has announced the pricing of a public offering of $185 million aggregate principal amount of 6.375% Fixed-to-Floating Rate Subordinated Notes due 2035. The Notes will accrue interest at 6.375% per annum from the original issue date until November 15, 2030, payable semiannually in arrears. From February 15, 2031, the Notes will bear interest at a floating rate equal to the Three-Month Term SOFR plus a spread of 307.5 basis points, payable quarterly in arrears. The Notes are expected to qualify as Tier 2 capital for regulatory purposes. The offering is expected to close on October 29, 2025, subject to customary closing conditions. The company estimates net proceeds of approximately $181.9 million, which will be used to repay existing indebtedness, support growth initiatives, and for general corporate purposes. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. OceanFirst Financial Corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9562955-en) on October 27, 2025, and is solely responsible for the information contained therein. © Copyright 2025 - Public Technologies (PUBT)
