RENASANT CORP 8-K

What Happened
Renasant Corporation announced the issuance and sale of $300 million aggregate principal amount of 6.25% Fixed-to-Floating Rate Subordinated Notes due 2036. The underwriting agreement was entered May 4, 2026, the offering closed May 7, 2026, and net proceeds to the company were approximately $295.7 million.

Key Details

• Size & Price: $300.0 million principal at a public offering price of 100%. Net proceeds ~ $295.7 million after underwriting discounts and expenses.
• Interest & Maturity: Fixed 6.25% interest paid semi‑annually from May 7, 2026 until June 1, 2031; thereafter floating interest (expected 3‑Month Term SOFR + 245 bps) paid quarterly; maturity June 1, 2036.
• Use of Proceeds: For general corporate purposes, including potential redemption of up to $40 million of existing 5.50% subordinated notes due Sept 1, 2031.
• Structure & Ranking: Notes are unsecured, subordinated obligations of the company (junior to senior debt, structurally subordinated to subsidiary liabilities); no sinking fund, not convertible. Redemption prior to June 1, 2031 or earlier redemptions require prior Federal Reserve approval if such approval is then required.

Why It Matters
This transaction boosts Renasant’s available capital by roughly $295.7 million, which can support growth, liquidity or selective balance-sheet actions (including a possible partial redemption of older subordinated notes). Because the notes are subordinated and count toward regulatory capital treatment in normal circumstances, investors should note the debt ranking and redemption conditions (including regulatory approval requirements) when assessing credit risk and capital structure impact.