EverBank Financial Corp Completes $200 Million Fixed-to-Floating Rate Subordinated Notes Offering
The Firm represented EverBank Financial Corp (the “Company”) in connection with its Rule 144A/Regulation S offering of $200.0 million aggregate principal amount of 7.500% Fixed-to-Floating Rate Subordinated Notes due 2035 (the “Notes”).
The Company intends to use the net proceeds from the Notes offering to support the growth of its wholly owned subsidiary, Everbank, N.A. (“EverBank”), and for general corporate purposes.
The Company is a financial holding company and conducts its banking operations through its wholly owned subsidiary, EverBank. EverBank is a nationwide specialty bank providing high-value products and services to consumer and commercial clients nationwide. As a pioneer in online banking, EverBank offers convenient digital access for clients 24/7, in addition to phone banking services and a network of financial centers across Florida, California and one in New York. EverBank’s commitment is to deliver to its clients high-performing, high-yield solutions backed by exceptional service, always giving them the advantage they expect, to make the most of their money.
The Simpson Thacher team included Lesley Peng, Edgar Lewandowski, Christopher Flynn and Louise Choi (Capital Markets); Spencer Sloan (Bank Regulatory); Michael Mann and Michael Leitner (Tax); Claire Cahoon and Olenka Burghardt (Regulatory); Jeannine McSweeney and Ryan Stott (Executive Compensation and Employee Benefits); and George Gerstein (ERISA).