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.