HTLF Announces Price of $ 150 Million Offer of
DUBUQUE, Iowa, Aug.31, 2021 (GLOBE NEWSWIRE) – Heartland Financial USA, Inc. (NASDAQ: HTLF) announced today that it has priced a public offering in the aggregate principal amount of $ 150,000,000 of its 2.75% floating rate subordinated notes due 2031 (the tickets “). The offer is subject to customary closing conditions and is expected to close on or around September 8, 2021. Piper Sandler & Co. is acting as the sole underwriter.
HTLF plans to use the net proceeds from ticket sales for general corporate purposes, which may include, but are not limited to, providing capital to support its organic growth or growth through strategic acquisitions, investment financing, capital expenditure, investments in bank subsidiaries as regulatory capital and debt repayment. A portion of the proceeds may be used to repay higher interest rate senior debt, including a principal amount of $ 21.25 million of a note payable to an unaffiliated bank that matures on July 24, 2028 and which currently bears interest at 5.425% per annum. HTLF may also withdraw certain preferred trust securities when rates and conditions make it advantageous.
For this ticket offering, HTLF has filed a registration statement (File No. 333-233120) and a preliminary prospectus supplement to the prospectus contained in the registration statement, and HTLF will file a final prospectus supplement, with the Securities and Exchange Commission (the second “). Before investing, you should read the prospectus in the registration statement, the prospectus supplement and other documents that HTLF has filed with the SEC for more complete information on the You may obtain copies of these documents free of charge by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, the underwriter will arrange to send you copies of the prospectus and the prospectus supplement relating to the offer if you request it by contacting: Piper Sandler & Co. by sending an email to [email protected]
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Tickets, and there will be no sale of the Tickets in any state or jurisdiction in which such an offer, solicitation or sale. would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offering of Notes is made only by means of a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. The Offered Notes have not been approved or disapproved by any regulatory authority, and no regulatory authority has passed on the accuracy or sufficiency of the registration statement, prospectus or prospectus supplement.
Heartland Financial USA, Inc., operating under the HTLF brand, is a financial services company with assets of $ 18.37 billion. HTLF has banks serving communities in Arizona, California, Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Montana, New Mexico, Texas, and Wisconsin. HTLF is dedicated to its core business activity, supported by a strong retail business, and provides a diverse range of financial services including cash management, residential mortgages, wealth management, investing and financial services. assurance. Further information is available at www.htlf.com.
Safe Harbor Declaration
This press release (including any information incorporated herein by reference), and future oral and written statements of the company and its management, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended. , and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to the business, financial condition, results of operations, plans, objectives and future performance of HTLF.
Any statement regarding the expectations, beliefs, plans, objectives, assumptions or future events or performance of the Company are not historical facts and may be forward-looking. Forward-looking statements may include information about possible or expected future results of the operations or performance of the company. These forward-looking statements are generally identified by the use of words such as “believe”, “expect”, “intend”, “anticipate”, “plan”, “intend”, “estimate”, ” project ”,“ power ”,“ will ”,“ would ”,“ could ”,“ should ”,“ could ”,“ see ”,“ opportunity ”,“ potential ”, or similar or negative expressions of these words or expressions which are used in this version, and future oral and written statements of the company and its management. Although the company may make these statements based on experience, beliefs, expectations, assumptions and best estimate future events of management, the ability of the company to predict the results or effect or actual results of plans or strategies is inherently uncertain, and there may be events or factors that management did not anticipate . Therefore, the accuracy and achievement of these statements and estimates forward-looking statements are subject to a number of risks, many of which are beyond management’s ability to control or predict, which could cause actual results to differ materially from those of its forecasts. staring statements. These factors, which the company currently believes could have a material effect on its operations and future prospects, are detailed below and in the risk factors in HTLF’s reports filed with the Securities and Exchange Commission. (“SEC”), including “risk factors” under point 1A of Part I of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, include, among others:
- COVID-19 pandemic risks, including risks related to the ongoing COVID-19 pandemic and measures adopted by the federal and state governments of the United States and adopted by private companies in response to the COVID pandemic- 19;
- Economic and Market Conditions Risks, including risks related to changes in the US economy in general and in the local economies in which HTLF operates and future civil unrest, natural disasters, terrorist threats or acts of war ;
- Credit risks, including the risks of increased credit losses due to the deterioration in the financial condition of HTLF borrowers, changes in asset and collateral values and the climate and other industry risks borrowers who may affect the allowance for credit losses and net write-offs;
- Liquidity and interest rate risks, including the impact of capital market conditions and changes in monetary policy on our borrowings and net interest income;
- Operational risks, including processing, information systems, cybersecurity, vendors, business disruption and fraud risks;
- Strategic and external risks, including competitive forces affecting our business and strategic acquisition risks;
- Legal, compliance and reputational risks, including regulatory and litigation risks; and
- Risks associated with holding shares in HTLF, including volatility and dilution of share price resulting from future share offerings and acquisitions.
There can be no assurance that other factors not currently foreseen by HTLF will not materially and adversely affect the business, financial condition and results of operations of the Company. In addition, many of these risks and uncertainties are currently magnified and may continue to be magnified by the COVID-19 pandemic and the impact of various government responses that affect the company’s customers and the economies in which they operate. Further, all statements contained in this press release, including forward-looking statements, speak only as of the date on which they are made. The company does not undertake and specifically disclaims any obligation to publish the results of any revision that may be made or to correct or update any forward-looking statement to reflect events or circumstances after the date of such statements or to reflect the occurrence of or unforeseen events or to update any statement in light of new information or future events. Further information regarding HTLF and its business, including additional factors that could significantly affect the Company’s financial results, are included in the Company’s filings with the SEC.
Bryan R. McKeag
Executive Vice President
Source: Heartland Financial USA, Inc.