Hamilton, Bermuda and New York, NY—21 May 2018: The Bank of N.T. Butterfield & Son Limited (“Butterfield”) (NYSE: NTB | BSX: NTB.BH) today announced the pricing of a registered offering of $75 million aggregate principal amount of Butterfield’s 5.25% Fixed to Floating Rate Subordinated Notes due 2028.
Butterfield intends to use the net proceeds from this offering to repay a portion of its outstanding indebtedness and for other general corporate purposes.
The offering is expected to close on or about 24 May 2018, subject to the satisfaction of customary closing conditions.
Sandler O’Neill & Partners and Wells Fargo Securities are acting as the joint book-running managers.
This offering is being made only by means of a prospectus and related prospectus supplement. Copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained from Sandler O’Neill & Partners, L.P., 1251 Avenue of the Americas, New York, NY 10020, or by telephone at (866) 805 4128, or from Wells Fargo Securities, LLC, 608 2nd Avenue South, Minneapolis, MN 55402, Attention: WFS Customer Service, by telephone at 1-800-645-3751, or by email at wfscustomerservice@wellsfargo.com. Electronic copies of these documents are also available on the website of the US Securities and Exchange Commission (the “SEC”),www.sec.gov.
A registration statement relating to these securities has been filed with, and declared effective by, the SEC. This News Release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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