Axos Financial, Inc. Completes Redemption of Subordinated Notes
31 März 2021 - 10:05PM
Business Wire
6.25% Notes due February 28, 2026 redeemed on
March 31, 2021
Axos Financial, Inc. (NYSE: AX) (“Axos” or the "Company”),
parent of Axos Bank (the “Bank”), announced today that the Company
redeemed (the “Redemption”) all of the issued and outstanding 6.25%
Subordinated Notes due February 28, 2026 (the “2026 Notes”). The
2026 Notes (NYSE: AXO), with an aggregate principal amount of $51
million, were redeemed on March 31, 2021 (“Redemption Date”) at
100% of their principal amount, plus accrued and unpaid interest.
The 2026 Notes no longer trade on the New York Stock Exchange
(“NYSE”) after the Redemption Date.
The redemption was principally funded with the proceeds from the
issuance of $175,000,000 aggregate principal amount of the
Company’s 4.875% Fixed-to-Floating Rate Subordinated Notes due 2030
which was completed September 18, 2020.
The redemption of the 2026 Notes will reduce the Company’s
future interest expense by approximately $3.2 million annually.
For more information regarding the Redemption, please contact
the Company’s trustee, U.S. Bank, at 1-800-934-6802.
About Axos Financial, Inc. and Subsidiaries
Axos Financial, Inc. is the holding company for Axos Bank, Axos
Clearing LLC and Axos Invest, Inc. Axos Bank is a nationwide bank,
with approximately $14.4 billion in assets, that provides consumer
and business banking products through its low-cost distribution
channels and affinity partners. Axos Clearing LLC and Axos Invest,
Inc., provide comprehensive securities clearing services to
introducing broker-dealers and registered investment advisor
correspondents and digital investment advisory services to retail
investors, respectively. Axos Financial, Inc.’s common stock is
listed on the NYSE under the symbol “AX” and is a component of the
Russell 2000® Index, the KBW Nasdaq Financial Technology Index, and
the S&P SmallCap 600® Index. For more information on Axos Bank,
please visit axosbank.com.
Forward-Looking Statements
This press release contains forward-looking statements that
involve risks and uncertainties, including without limitation
statements relating to Axos’ financial prospects and other
projections of its performance, specifically the redemption of the
Notes. These and other risks and uncertainties detailed in Axos’
periodic reports filed with the Securities and Exchange Commission
could cause actual results to differ materially from those
expressed or implied in any forward-looking statements. You are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
All forward-looking statements are qualified in their entirety by
this cautionary statement, and Axos undertakes no obligation to
revise or update any forward-looking statements to reflect events
or circumstances after the date of this press release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210331005929/en/
Johnny Lai, CFA VP, Corporate Development and Investor Relations
Axos Financial, Inc. Phone: 1-858-649-2218 Email:
jlai@axosfinancial.com
Axos Financial (NYSE:AXO)
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