Katahdin Bankshares Corp. Announces Offer to Repurchase 5.375% Fixed Senior Unsecured Notes

BY PR Newswire | CORPORATE | 11/01/24 09:05 AM EDT

HOULTON, Maine, Nov. 1, 2024 /PRNewswire/ --?Katahdin Bankshares Corp. , parent company of Katahdin Trust Company, has extended an offer to repurchase any or all of its outstanding 5.375% Fixed Senior Unsecured Notes having a maturity date of June 15, 2026.?

These notes presently are held of record by nine institutional investors, in an aggregate principal amount of $14.5 million.? The offered repurchase price equals the principal amount of each note, without discount or premium, plus all accrued but unpaid interest thereon.? The contemplated note repurchases will be funded by a special dividend from Katahdin Trust Company, are not considered material to the financial condition of the bank, and are being made after notice to relevant bank regulatory agencies.

Closing presently is scheduled for December 16, 2024.

About Katahdin Bankshares Corp.?
Katahdin Bankshares Corp. (KTHN) is the bank holding company of Katahdin Trust Company. Founded in 1918, Katahdin Trust is a community bank based in Houlton, Maine with 16 locations and more than $1.05 billion in assets. Katahdin Bankshares Corp. (KTHN) common stock is quoted on the OTC Markets (OTCQX) under the symbol KTHN. Learn more about the Company and its subsidiary bank at www.katahdintrust.com and follow Katahdin Trust on social media.

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SOURCE Katahdin Bankshares Corp. (KTHN)

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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