What is being issued

First Merchants Corporation is pricing a $100 million notes offering, and the notes are described as intended to qualify as Tier 2 capital for regulatory purposes.

The notes have an initial interest rate of 6.750% per annum, a redeemable date of October 1, 2031, an interest reset date of October 1, 2031, and a maturity date of October 1, 2036.

Highlights

  • First Merchants Corporation is pricing the notes offering at $100 million.
  • The notes carry an initial interest rate of 6.750% per annum.
  • Piper Sandler is the sole book-running manager.

Who is involved

Piper Sandler is acting as sole book-running manager on the offering, and First Merchants Corporation uses the ticker symbol FRME.

What to watch next

The expected closing date is on or about September 25, 2026.