Financing ·
Avidbank Holdings, Inc. issued $30 million in aggregate principal amount of 7.00% Fixed-to-Floating Rate Subordinated…
AVBHAvidbank Holdings, Inc.
Avidbank Holdings, Inc. issued $30 million in aggregate principal amount of 7.00% Fixed-to-Floating Rate Subordinated Notes due 2036 via a private placement on August 26, 2026. The notes carry a fixed interest rate until September 1, 2031, after which the rate resets quarterly to three-month SOFR plus 291 basis points. Proceeds were used to repurchase $18 million of outstanding principal from its existing 5.000% Fixed-to-Floating Subordinated Notes due 2029 at a cost of approximately $18.2 million, including accrued interest. The company also notified the paying agent to redeem the remaining $4 million of the 2029 notes on September 30, 2026, resulting in the full retirement of that debt series. Avidbank Holdings operates as a financial holding company providing commercial and industrial lending, venture lending, structured finance, and real estate construction services.