Axos Financial prices $200 million of 2035 subordinated notes to refinance 2030 notes
Axos Financial priced a $200 million offering of 7.00% fixed-to-floating rate subordinated notes due 2035, with expected net proceeds of approximately $197.2 million and closing expected on or about September 19, 2025. The company plans to use the proceeds to redeem its $160.5 million of outstanding 4.875% notes due 2030 on October 1, 2025, and for growth initiatives and general corporate purposes, which refinances existing debt and adds new long-term subordinated borrowing.
Key points
- $200 million of 7.00% Fixed-to-Floating Rate Subordinated Notes due 2035 priced at 100% of principal amount; Keefe, Bruyette & Woods is representative of the underwriters.
- Estimated net proceeds of approximately $197.2 million after 1.25% underwriting discounts and expenses; closing expected on or about September 19, 2025.
- Proceeds intended to redeem all $160.5 million of outstanding 4.875% notes due October 1, 2030; the redemption is conditional on Axos completing financing actions.
- Notes are callable at par from October 1, 2030; floating-rate interest thereafter is Three-Month Term SOFR plus 379 basis points.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:05 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 16, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.