First Keystone Raises $32.5 Million Via 7.50% Subordinated Notes to Bolster Tier 2 Capital
First Keystone Corp (FKYS) raised $32.5M via private placement of 7.50% subordinated notes due 2036. The notes will bolster Tier 2 capital and fund general corporate purposes. The fixed rate applies until 2031, then floats at SOFR + 277 bps, with interest paid semi-annually then quarterly. The notes are not redeemable before 2031, except in limited cases.
