KBRA Assigns Rating to $250 Million Subordinated Notes Issued by Columbia Bank
KBRA assigned a rating of A- with a Stable Outlook to the $250 million subordinated notes issued by Columbia Bank, which mature on September 18, 2036 and are callable beginning September 18, 2031. Net proceeds from the notes will be used for general corporate purposes and to retire trust preferred securities outstanding at Columbia Banking System, Inc.
Why it matters — A COLB watcher would care because this credit rating on the bank's new subordinated debt issuance reflects an assessment of the company's creditworthiness and signals how the bank plans to use the proceeds, including retiring outstanding trust preferred securities at the holding company.