WSFS Announced First-Quarter Call of $70 Million Legacy Bryn Mawr Trust Subordinated Debt
WSFS Financial (NASDAQ: WSFS) has announced the call of $70 million fixed-to-floating rate subordinated notes due 2027, which were previously acquired from Bryn Mawr Trust. The company utilized its operating cash flows to repay these 2027 Notes.
According to David Burg, WSFS' Executive Vice President and Chief Financial Officer, the company's robust capital and liquidity positions enabled them to pay off liabilities with higher funding costs, aligning with their balance sheet strategy of optimizing debt and collateral.
WSFS Financial (NASDAQ: WSFS) ha annunciato l'emissione di 70 milioni di dollari in note subordinate a tasso fisso variabile con scadenza nel 2027, precedentemente acquisite da Bryn Mawr Trust. L'azienda ha utilizzato i propri flussi di cassa operativi per rimborsare queste Note 2027.
Secondo David Burg, Vice Presidente Esecutivo e Chief Financial Officer di WSFS, le solide posizioni di capitale e liquidità dell'azienda hanno consentito di estinguere passività con costi di finanziamento più elevati, in linea con la loro strategia di bilancio di ottimizzare il debito e le garanzie.
WSFS Financial (NASDAQ: WSFS) ha anunciado la emisión de 70 millones de dólares en notas subordinadas a tasa fija variable con vencimiento en 2027, que fueron adquiridas previamente de Bryn Mawr Trust. La compañía utilizó sus flujos de efectivo operativos para pagar estas Notas 2027.
Según David Burg, Vicepresidente Ejecutivo y Director Financiero de WSFS, las sólidas posiciones de capital y liquidez de la empresa les permitieron saldar pasivos con costos de financiamiento más altos, alineándose con su estrategia de balance de optimizar la deuda y las garantías.
WSFS Financial (NASDAQ: WSFS)는 Bryn Mawr Trust로부터 이전에 인수한 7천만 달러 고정-변동 금리 후순위 채권을 2027년 만기로 발행한다고 발표했습니다. 회사는 운영 현금 흐름을 활용하여 이 2027년 채권을 상환했습니다.
David Burg WSFS의 부회장 겸 최고 재무 책임자에 따르면, 회사의 강력한 자본 및 유동성 위치는 더 높은 자금 조달 비용을 가진 부채를 상환할 수 있게 하였으며, 이는 부채 및 담보 최적화라는 재무 전략과 일치합니다.
WSFS Financial (NASDAQ: WSFS) a annoncé l'émission de 70 millions de dollars d'obligations subordonnées à taux fixe et variable arrivant à échéance en 2027, qui avaient été précédemment acquises auprès de Bryn Mawr Trust. L'entreprise a utilisé ses flux de trésorerie d'exploitation pour rembourser ces Obligations 2027.
Selon David Burg, Vice-Président Exécutif et Directeur Financier de WSFS, les solides positions en capital et en liquidité de l'entreprise leur ont permis de rembourser des passifs avec des coûts de financement plus élevés, en accord avec leur stratégie de bilan visant à optimiser la dette et les garanties.
WSFS Financial (NASDAQ: WSFS) hat die Emission von 70 Millionen Dollar an nachrangigen Anleihen mit festem und variablem Zinssatz mit Fälligkeit im Jahr 2027 angekündigt, die zuvor von Bryn Mawr Trust erworben wurden. Das Unternehmen nutzte seine operativen Cashflows, um diese 2027-Anleihen zurückzuzahlen.
Laut David Burg, Executive Vice President und Chief Financial Officer von WSFS, ermöglichten die robusten Kapital- und Liquiditätspositionen des Unternehmens die Begleichung von Verbindlichkeiten mit höheren Finanzierungskosten, was mit ihrer Bilanzstrategie zur Optimierung von Schulden und Sicherheiten übereinstimmt.
- Early debt retirement demonstrates strong liquidity position
- Reduction of higher-cost debt improves financial efficiency
- Operating cash flows sufficient to cover $70M debt repayment
- $70M cash outflow reduces available liquidity
“We are pleased to announce our payoff of the 2027 Notes,” said David Burg, WSFS' Executive Vice President and Chief Financial Officer. “Our strong capital and liquidity levels have positioned us well to pay off liabilities with higher funding costs. This payoff is consistent with our balance sheet strategy of optimizing debt and collateral.”
About WSFS Financial Corporation
WSFS Financial Corporation is a multibillion-dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally headquartered bank and trust company in the
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Investor Relations Contact: Andrew Basile
(302) 504-9857
abasile@wsfsbank.com
Media Contact: Connor Peoples
(215) 864-5645
cpeoples@wsfsbank.com
Source: WSFS Financial Corporation
FAQ
How much subordinated debt did WSFS Financial call from Bryn Mawr Trust?
What funding source did WSFS use to repay the 2027 Notes?
Why did WSFS decide to call the Bryn Mawr Trust subordinated debt?
When were the called Bryn Mawr Trust subordinated notes originally due to mature?
