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 27, 2026 today | 425 | $41.97 | awaiting T+60 | awaiting T+60 | $41.58 (−0.93%) |
Oct 27, 2026 today | 425 | $41.97 | awaiting T+60 | awaiting T+60 | $41.58 (−0.93%) |
Oct 27, 2026 today | 8-K | $41.97 | awaiting T+60 | awaiting T+60 | $41.58 (−0.93%) |
Oct 27, 2026 today | 8-K | $41.97 | awaiting T+60 | awaiting T+60 | $41.58 (+0.93%) |
Oct 27, 2026 today | Press Release | $41.97 | awaiting T+60 | awaiting T+60 | $41.58 (−0.93%) |
Oct 27, 2026 today | Press Release | $41.97 | awaiting T+60 | awaiting T+60 | $41.58 (+0.93%) |
Oct 6, 2026 21d ago | 3 | $39.40 | awaiting T+60 | awaiting T+60 | $41.58 (+5.53%) |
Aug 25, 2026 9w ago | Press Release | $41.04 | awaiting T+60 | awaiting T+60 | $41.58 (+1.32%) |
Aug 6, 2026 11w ago | 8-K | $43.30 | awaiting T+60 | awaiting T+60 | $41.58 (−3.97%) |
Jul 9, 2026 15w ago | Press Release | $42.52 $39.64 | ▼ −6.77% | ▼ −9.41% | $41.58 (−2.21%) |
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