The Bancorp completes $100M senior bond offering
WILMINGTON – The Bancorp Inc. (TBBK) announced Aug. 13 that it has completed its previously announced underwritten offering and sale of its $100 million aggregate principal amount of 4.75% senior notes due 2025. The notes were sold at par, resulting in net proceeds, after underwriting discounts and estimated offering expenses, of approximately $98.3 million.
The company intends to use the net proceeds of the offering for general corporate purposes.
Piper Sandler & Co. and Raymond James & Associates, Inc. are acting as book-running managers for the offering.