First Republic Bank (FRC) in San Francisco expects to raise up to $400 million through a debt offering.

The $44 billion-asset bank said that it will use the proceeds for corporate purposes, which may include funding loans or purchasing investment securities.

The senior notes will carry an interest rate of 2.375% and will mature on June 17, 2019. First Republic will pay interest on a semiannual basis, beginning on Dec. 17 of this year.

This is the second capital raise for First Republic in the past few months. The bank in March raised approximately $200 million through a public stock offering.

Several firms will jointly manage the offering, including Merrill Lynch, Pierce, Fenner & Smith; Goldman Sachs; J.P. Morgan and Morgan Stanley.

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