Simmons First National Corporation Finalizes Pricing for Subordinated Notes Offering Worth $325 Million

Simmons First National Corporation Announces Pricing of Subordinated Notes

Simmons First National Corporation, operating under the NASDAQ ticker SFNC, has just announced the pricing details for its public offering of subordinated notes totaling $325 million in aggregate principal amount. These notes, which are categorized as 6.25% Fixed-to-Floating Rate Subordinated Notes, are set to mature in 2035.

The pricing has been established at par, signaling strong interest in the offering. The institution plans to utilize the proceeds from this offering, in conjunction with its available cash, to fully repay the existing $330 million principal amount of the 2028 Fixed-to-Floating Rate Subordinated Notes. In addition to this, the funds will also be allocated for general corporate expenses. This decision underscores the company's strategic move towards managing both its debt and operational requirements effectively.

The joint book-running managers facilitating the offering include Keefe, Bruyette & Woods, a Stifel Company, and Morgan Stanley. The additional co-managers consist of Piper Sandler & Co., Raymond James Associates, Inc., and Stephens Inc., demonstrating a robust collaboration across prominent financial institutions.

The anticipated closure of the offering is expected on or around September 12, 2025, pending standard customary conditions. This process is proceeding under an effective automatic shelf registration statement that has been previously filed with the Securities and Exchange Commission (SEC). Importantly, the offering will be detailed through a prospectus supplement alongside a comprehensive prospectus.

The notes will be issued according to the Subordinated Indenture established back in March 2018, which includes agreements between Simmons and Wilmington Trust as the trustee. It’s noteworthy that these notes are structured in such a way that they are not guaranteed by any subsidiaries of the corporation, carrying inherent risks associated with such financial products.

For those interested in participating in the offering or seeking additional details, the necessary documents, including the prospectus and its supplements, are accessible via the SEC’s EDGAR database. Furthermore, they can be obtained directly from the underwriters, offering an easy path for potential investors to obtain key information.

Looking at the history and performance of Simmons First National Corporation, this innovative financial institution has been a reliable entity in the financial services sector, consistently providing cash dividends to its shareholders for an impressive 116-year period. Simmons Bank, a principal subsidiary, operates an extensive network of more than 220 branches across multiple states including Arkansas, Kansas, Missouri, Oklahoma, Tennessee, and Texas. The bank’s dedication to a client-centric approach has not gone unnoticed, as it was recently recognized by Newsweek as one of America’s Greatest Workplaces for 2025 in Arkansas.

Moreover, Simmons Bank’s culture and operational strengths have earned accolades from various sources. In 2024, it was shortlisted by Newsweek as one of the Best Regional Banks and by U.S. News & World Report as one of the Best Companies to Work For in the South, showcasing its commitment to not only financial performance but also employee satisfaction.

In addition, Forbes recognized Simmons Bank in 2024 for being one of America’s Best-In-State Banks in Tennessee, along with being highlighted as one of Missouri’s Best-In-State Employers, demonstrating a strong operational presence and positive workplace environment.

In summary, Simmons First National Corporation’s announcement regarding its subordinated notes offering illustrates both a calculated financial strategy to manage existing obligations and a commitment to its growth and operational strengthening. As this announcement emerges from their Arkansas headquarters, it reflects a forward momentum for both the corporation and its significant stakeholder community.

Forward-Looking Statements: The contents of this announcement contain forward-looking statements pertaining to expectations regarding the offering and its proceeds. It’s essential for interested parties to consider the inherent risks and uncertainties before investing and to obtain comprehensive insights by reviewing the prospectus and other Securities and Exchange Commission filings.