First Merchants Executes Indenture for $100 Million 6.750% Subordinated Notes Due 2036
First Merchants entered into an Indenture and First Supplemental Indenture to issue $100 million of 6.750% fixed-to-floating rate subordinated notes due 2036. The notes pay 6.750% semi-annually until Oct 1, 2031, then float at Three-Month Term SOFR plus 202 bps, paid quarterly, with maturity on Oct…