Community banking

Susquehanna to Sell $150 Million in Senior Notes

By Jackie Stewart August 09, 2012, 9:45 a.m. EDT 1 Min Read

M&A

Susquehanna Focuses on Internal Growth After Recent Deals

The slow M&A market gives the Pennsylvania bank little choice but to digest its two acquisitions and wait for conditions to improve, CEO Reuter says.

By Matthew Monks

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Susquehanna Bancshares (SUSQ) in Lititz, Pa., plans to raise up to $150 million through a senior notes public offering.

The $17.7 billion-asset company will use the capital and available cash to repay various debt, including $125 million in outstanding capital securities, about $50 million of trust-preferred securities and $21 million in subordinated notes issued by Tower Bancorp, Susquehanna said Wednesday. Susquehanna acquired Tower in February. The money may also be used for general corporate purposes.

The offering is expected to close Monday and involves 5.375% senior notes due in 2022.

Executive Editor, American Banker Magazine

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