06:42 AM EDT, 09/17/2025 (MT Newswires) -- Axos Financial ( AX ) said Wednesday that it has priced a $200 million public offering of 7% fixed-to-floating rate subordinated notes due 2035.

The company said that the notes will pay interest semiannually until Oct. 1, 2030, after which interest will float at the three-month term SOFR plus 379 basis points, paid quarterly until maturity or earlier redemption.

The notes will be callable at par on any interest payment date beginning Oct. 1, 2030, the company said.

Axos said proceeds from the offering will be used to repay $175 million in existing subordinated notes due 2030 and to fund growth and general corporate purposes.