Cohen & Company Shifts From LIBOR to SOFR Benchmark

Cohen & Company Inc (COHN) has released an update to notify the public and investors about an entry into a material definitive agreement.

Cohen & Company Inc. issued $28,995,000 in Junior Subordinated Notes due in 2037 through a private placement in 2007. In 2024, the company amended the indenture with Wells Fargo Bank, switching the interest rate benchmark from LIBOR to the Secured Overnight Financing Rate (SOFR) following LIBOR’s cessation. No other changes were made to the indenture except for this amendment related to the interest rate benchmark.

For further insights into COHN stock, check out TipRanks’ Stock Analysis page.