NasdaqGS:ZIONBanks
Zions Bancorporation (ZION): Assessing Valuation After $500 Million Fixed-to-Floating Senior Notes Offering
If you have been following Zions Bancorporation National Association (ZION), you probably noticed the recent buzz around its $500 million fixed-to-floating rate senior notes offering. The bank priced these notes with a 4.7% fixed rate initially, shifting to a floating rate based on SOFR plus a spread later on. Beyond the headline numbers, the real focus is what the bank plans to do with the proceeds—specifically, paying down short-term debt and reducing its exposure to interest rate swings...