Overview
The BFKN Financial Institutions Group served as legal counsel to QCR Holdings, Inc. (NASDAQ: QCRH) in its completion of private placements of $100 million in aggregate principal amount of subordinated notes. The Company expects to utilize the net proceeds from the private placements for general corporate purposes, which might include repurchasing shares of common stock.
The private placements were presented in two separate installments compromising $45 million in aggregate principal amount of Fixed-to-Floating Rate Subordinated Notes due September 2032 and $55 million in aggregate principal amount of Fixed-to-Floating Subordinated Notes due September 2037.
“Great companies plan for a certain economic environment but prepare for uncertainty. We believe the capital that we’re adding is a prudent move that prepares us for uncertainty in the future,” said Larry J. Helling, Chief Executive Officer.
BFKN’s legal team was led by partner Abdul R. Mitha and associate Zoe Xiuha Uvin.
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