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Concentra Bank announced the closing of an offering of $250 million fixed rate deposit notes in the debt capital markets to a broad group of investors.
Concentra Bank ("Concentra" or the "Bank") today announced the closing of an offering of $200 million floating rate deposit notes (the "Notes") in the debt capital markets to a broad group of investors. The Notes will mature on February 7, 2022 and will bear interest at a floating rate equal to three-month CDOR plus 47 basis points, reset quarterly. The Notes will rank equally and ratably with all present and future unsecured and unsubordinated liabilities of Concentra and are not eligible for CDIC insurance.
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