Financial Institutions Inc. Completes $80 Million Subordinated Notes Offering
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Financial Institutions Inc. has completed an $80 million private placement of fixed-to-floating rate subordinated notes due 2035, with a 6.50% annual interest rate. The proceeds will refinance existing debt and provide additional capital. The notes received a BBB- rating from Kroll Bond Rating Agency. Piper Sandler & Co. acted as the sole placement agent.
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