Renasant Corporation, the parent company of Renasant Bank, announced that it has priced $60 million of its 5.00% fixed-to-floating rate subordinated notes due September 1, 2026, and $40 million of its 5.50% fixed-to-floating rate subordinated notes due September 1, 2031. The 5.00% Notes due September 1, 2026 have an initial fixed interest rate of 5.00% until August 31, 2021, payable semi-annually in arrears, a 10-year term and were offered to the public at par. Commencing September 1, 2021, the interest rate on the 5.00% Notes due September 1, 2026, resets quarterly to a floating rate per annum equal to the then-current three-month LIBOR plus 384 basis points, payable quarterly in arrears. The 5.50% Notes due September 1, 2031, have an initial fixed interest rate of 5.50% until August 31, 2026, payable semi-annually in arrears, a 15-year term and were offered to the public at par. Commencing September 1, 2026, the interest rate on the 5.50% Notes due September 1, 2031, resets quarterly to a floating rate per annum equal to the then-current three-month LIBOR plus 407.1 basis points, payable quarterly in arrears.

The offerings are expected to close on August 22, 2016, subject to customary closing conditions. The Company intends to use the net proceeds from the Notes offerings for general corporate purposes, which may include providing capital to support the Company's growth organically or through strategic acquisitions, repaying indebtedness and financing investments and capital expenditures, and for investments in the Bank as regulatory capital.

The offerings were underwritten by Sandler O'Neill + Partners, L.P.; Keefe, Bruyette & Woods, A Stifel Company; and Raymond James & Associates, Inc.

The Notes are being offered pursuant to the Company's Registration Statement on Form S-3 (File No. 333-206966) (including a base prospectus) under the Securities Act of 1933, as amended, which was filed with the Securities and Exchange Commission and was automatically effective on September 15, 2015, a preliminary prospectus supplement with respect to each series of the Notes filed with the SEC on August 17, 2016, and a final prospectus supplement with respect to each series of the Notes to be filed with the SEC.