Univest Corp. of Pennsylvania in Souderton has issued $50 million in subordinated debt.

The $2.2 billion-asset company disclosed in a regulatory filing Monday that it issued the notes, due 2025, in a private placement to unnamed institutional investors.

Net proceeds of $49 million will be used for general corporate purposes, including a contribution to Univest Bank and Trust, organic growth and acquisitions.

The notes will have an annual fixed rate of 5.1% through March 2020 before switching to a floating rate. Univest can start to redeem the notes in early 2020.

Univest has been acquisitive in recent months, agreeing to buy Green Valley Bank in Mount Airy, Pa., and Sterner Insurance Associates in Coopersburg, Pa.

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