The Firm represented Independent Bank Corp. (“Independent”) in connection with its registered debut offering of $300.0 million aggregate principal amount of 7.25% Fixed-to-Floating Rate Subordinated Notes due 2035 (the “Notes”).
Independent intends to use the net proceeds from the Notes offering for general corporate purposes, which may include redeeming Enterprise Bancorp, Inc.’s (“Enterprise”) 5.25% Fixed-to-Floating Rate Subordinated Notes due 2030 following the consummation of Independent’s merger with Enterprise.
Independent is the holding company for Rockland Trust, a full-service commercial bank headquartered in Massachusetts. With retail branches in Eastern Massachusetts and Worcester County as well as commercial banking and investment management offices in Massachusetts and Rhode Island, Rockland Trust offers a wide range of banking, investment, and insurance services to individuals, families, and businesses. Rockland Trust also offers a full suite of mobile, online, and telephone banking services. Rockland Trust is an FDIC member and an Equal Housing Lender.
The Simpson Thacher team included Lesley Peng, Evan Zuckerman, Nate Yang and Jacob Broz (Capital Markets); Amanda Allexon and Joseph Pucciarelli (Bank Regulatory); Michael Mann (Tax); Jeannine McSweeney, Joshua Stephens and Abigail Janik (Executive Compensation and Employee Benefits); Christine Song and Christian Bond (Intellectual Property); and Jennie Getsin (FINRA and Blue Sky).