Evercore to issue $250 million of senior notes in private placement due 2030 and 2032
Evercore entered into a note purchase agreement on July 10, 2025, under which it will issue $125 million of 5.17% Series K notes due 2030 and $125 million of 5.47% Series L notes due 2032, with closing set for July 24, 2025. The company plans to use part of the proceeds to repay maturing notes issued under prior agreements within the next twelve months, with the remainder for general corporate purposes. The notes add $250 million of debt and carry leverage and tangible net worth covenants that shareholders may want to track.
Key points
- Total principal of $250 million: $125 million Series K notes at 5.17% due July 24, 2030, and $125 million Series L notes at 5.47% due July 24, 2032
- Notes issued in a private placement exempt from SEC registration; closing scheduled for July 24, 2025
- Interest paid semi-annually on April 30 and October 30, starting October 30, 2025
- Covenants include a maximum consolidated leverage ratio of 2.75 to 1.0 and a minimum consolidated tangible net worth of $325 million
The filing
Written by AI on Nov 8, 2026, 12:56 AM ET, from this filing 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 July 11, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.