Pinnacle Financial heads to debt market to refinance notes

|About: Pinnacle Financial Partners... (PNFP)|By:, SA News Editor

Pinnacle Financial Partners (NASDAQ:PNFP) starts a public offering of fixed-to-floating rate subordinated notes due 2029 and will use the proceeds to redeem certain of Pinnacle Financial's and Pinnacle Bank's subordinated notes.

Expects to redeem $88.8M of Pinnacle Financial subordinated notes following the closing of the offering and $130M of subordinated notes issued by Pinnacle Bank after such notes become eligible for redemption on July 30, 2020.

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