WSFS Financial closes senior notes offering
WSFS Financial Corporation, the parent company of WSFS Bank, has closed the underwritten public offering of $100 million of senior notes due in 2026.
The notes were offered to the public at 100 percent of their face amount.
In anticipation of the senior note offering, WSFS recently obtained ratings from Kroll Bond Rating Agency. The agency assigned a senior unsecured debt rating of A- and subordinated debt rating of BBB+ to WSFS.
“We are pleased with our recent Kroll rating and the strong market reaction to our offering which demonstrates confidence in our ability to successfully execute our strategic plan” said Rodger Levenson, executive vice president and chief corporate development officer. “We expect to use proceeds for general corporate purposes including financing organic growth and acquisitions with a particular focus on growing fee- based income, repurchases of common stock and paying off outstanding debt.”