FIG Partners Placed $13.5 Million Subordinated Debt Offering For Gold Coast Bancorp
Geoffrey Hodgson
Recently retired in June 2024. Values-driven executive Leader honored to have worked with outstanding Teams and Partners throughout my financial services career in capital markets.
FIG Has Raised More Than $700 Million In Debt Capital In 27 Offerings To Date
Gold Coast Bancorp Inc. (OTC: GLDT), the holding company of Gold Coast Bank, has completed the sale of $13.5 million fixed-to-floating subordinated notes.
The notes, due in 2027, will bear interest at 6.50% per annum for the first five years. After the first five years, the notes will be payable at an annual floating rate equal to three-month LIBOR, plus a spread of 4.55% until maturity or early redemption.
Gold Coast Bancorp plans to use the net proceeds for general corporate purposes, including contribution of capital to Gold Coast Bank to support continued growth.
John C. Tsunis, Chairman and CEO said, “The completion of this offering will allow us to continue to execute on our strategic growth plan and manage our capital levels.”
The FIG team included Greg Gersack, Senior Managing Principal and Co-Head of Investment Banking; Dan Flaherty, Principal; Matthew Veneri, Managing Principal and Co-Head of Investment Banking; and Lozan Aleksandrov, Senior Vice President and Deputy Head of Capital Markets.
Since 2003, FIG has been the trusted advisor to community banks and investors. For more information about FIG's Investment Banking services, please visit www.figpartners.com.