Axos Financial, Inc. has announced the pricing of a public offering of $200 million in aggregate principal amount of the company’s 7.00% fixed-to-floating rate subordinated notes due 2035. The notes will bear interest at a rate of 7.00% per year, payable semi-annually in arrears on April 1, and October 1, of each year, beginning on April 1, 2026, and from October 1, 2030 to October 1, 2035, or an earlier redemption date, interest will accrue at a floating rate per annum.
The company also received a BBB rating from Kroll Bond Rating Agency for the notes and the proceeds from the sale of the notes are expected to be used to repay its existing subordinated notes due 2030, of which $175 million were issued (and which are set to re-price to an interest rate of approximately nine percent), and to support growth initiatives at the company’s subsidiaries and for general corporate purposes.
Axos Financial, Inc. is the holding company for Axos Bank, Axos Clearing LLC, and Axos Invest, Inc. Axos Bank provides consumer and business banking products nationwide through its low-cost distribution channels and affinity partners. Axos Clearing LLC, including its business division Axos Advisor Services, has approximately $39.4 billion of assets under custody and/or administration as of June 30, 2025, and Axos Invest, Inc. provides comprehensive securities clearing services to introducing broker-dealers and registered investment advisor correspondents, and digital investment advisory services to retail investors, respectively.
As of June 30, 2025, Axos Financial, Inc. reported approximately $24.8 billion in consolidated assets, and its common stock is listed on the NYSE under the symbol “AX” and is a component of the Russell 2000® index and the S&P SmallCap 600® index, among other indices. Today the company's shares have moved -2.27% to a price of $88.24. For the full picture, make sure to review Axos Financial's 8-K report.
