Watch for final pricing and aggregate principal amount in the subsequent final prospectus supplement. The refinancing of higher-cost 5.50% notes could modestly reduce interest expense. Monitor for any change in credit rating from KBRA.
Price Chart
Executive Summary
Renasant Corp is issuing subordinated notes (due 2036) in a preliminary offering to refinance $40M of 5.50% notes and for general corporate purposes. The offering follows strong Q1 2026 earnings (EPS $0.94, net income $88.2M) and a $100M buyback expansion. Terms are not yet finalized.
Key Facts
- Offering of % Fixed-to-Floating Rate Subordinated Notes due 2036; no public trading market expected
- Net proceeds intended for general corporate purposes including potential redemption of $40M 5.50% Subordinated Notes due 2031
- Company reported Q1 2026 net income of $88.2M and diluted EPS of $0.94 (beating consensus)
- Board increased quarterly dividend to $0.24/share and expanded stock repurchase authorization by $100M to $250M total
- Notes will be unsecured, subordinated obligations qualifying as Tier 2 capital
Financial Impact
Offering size and interest rate not yet determined; net proceeds will be disclosed upon pricing. Potential interest savings from redeeming $40M of 5.50% notes.
Risk Factors
- Limited trading market for the notes may affect liquidity
- Subordination to senior debt and structural subordination to subsidiary liabilities
- Regulatory restrictions on holding company's ability to pay interest from bank dividends
- Interest rate risk from floating-rate period after 2031
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001193125-26-202742 |
| Document: 0001193125-26-202742-index-headers.html | 0001193125-26-202742 |
| Document: 0001193125-26-202742-index.html | 0001193125-26-202742 |
| Document: 0001193125-26-202742.txt | 0001193125-26-202742 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | 3 | $39.40 | awaiting T+60 | — | $41.75 (+5.96%) |
Aug 25, 2026 8w ago | Press Release | $41.04 | awaiting T+60 | — | $41.75 (+1.73%) |
Aug 6, 2026 11w ago | 8-K | $43.30 | awaiting T+60 | — | $41.75 (−3.58%) |
Jul 9, 2026 15w ago | Press Release | $42.52 $39.64 | ▼ −6.77% | ▼ −9.41% | $41.75 (−1.81%) |
Jul 1, 2026 16w ago | 10-K/A | $43.66 $40.05 | ▼ −8.27% | ▼ −11.23% | $41.75 (−4.37%) |
May 21, 2026 22w ago | Insider Cluster | $41.17 $43.11 | ▲ +4.71% | ▲ +0.41% | $41.75 (+1.41%) |
May 15, 2026 23w ago | 8-K | $39.79 $43.35 | ▲ +8.95% | ▲ +4.10% | $41.75 (+4.93%) |
May 7, 2026 24w ago | 8-K | $40.19 $44.30 | ▲ +10.23% | ▲ +5.39% | $41.75 (+3.88%) |
May 5, 2026 24w ago | 424B5 | $40.63 $43.57 | ▲ +7.24% | ▲ +5.17% | $41.75 (+2.76%) |
May 4, 2026 25w ago | 424B5 | $39.41 $43.83 | ▲ +11.22% | ▲ +9.36% | $41.75 (+5.94%) |
US Market Status
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