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2025-09-17 19:18:00
[Axos Financial's huge note issuance, 7% interest rate attracts attention] ⑴ Axos Financial announced on Wednesday (Beijing time) that it has successfully priced $200 million in 7% fixed-to-floating rate subordinated bonds, which will mature in 2035. The move is aimed at optimizing the capital structure and providing financial support for the company's future growth strategy. ⑵ The funds raised from this issuance are expected to be used to repay $175 million in subordinated bonds with an interest rate of approximately 9% that will mature in 2030. Through this issuance, Axos Financial has successfully reduced short-term financing costs and laid a solid foundation for long-term development. ⑶ The coupon rate of the newly issued bonds is 7%, effective April 1, 2026. From October 1, 2030 to October 1, 2035 (or the early redemption date), the interest rate will be adjusted to a floating rate, which is the then-current three-month SOFR plus 379 basis points. This note issuance highlights the company's meticulous management of financing costs in the current market environment.
