Axos Financial, Inc. announced a $200 million public offering of 7% fixed-to-floating rate subordinated notes due 2035. The company plans to use the proceeds to repay $175 million subordinated notes due 2030 with a 9% interest rate. The notes will accrue interest at 7% per year starting April 1, 2026, and will switch to a floating rate tied to the three-month Term SOFR plus 379 basis points from October 1, 2030, until October 1, 2035. These funds will support growth initiatives at subsidiaries and general corporate purposes.

Read more at Nasdaq: Axos Financial Prices $200 Mln Of 7% Subordinated Notes