Dime Community Bancshares (DCOM) Announces Launch of Subordinated Notes Offering
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Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 5.6%
Revenue Growth %: -100.0%
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Dime Community Bancshares, Inc. (NASDAQ: “DCOM”), (the “Company”), the holding company for Dime Community Bank (the “Bank”), today announced that, subject to market and other conditions, it plans to offer $160 million aggregate principal amount of subordinated notes due 2032 (the “Notes”). The Notes are intended to qualify as Tier 2 capital for regulatory purposes.
The Company intends to use the net proceeds of the offering for general corporate purposes, which may include, but are not limited to, the repayment of the Company’s outstanding subordinated notes.
Piper Sandler & Co. is acting as the active book-running manager for the offering. Keefe, Bruyette, & Woods, Inc. and Raymond James Financial, Inc. are acting as passive book-running managers for this offering.
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