03:24 AM EDT, 08/12/2025 (MT Newswires) -- Zions Bancorporation (ZION) said late Monday it priced $500 million of fixed-to-floating rate senior notes due August 2028.

The company said the notes will pay a fixed annual interest rate of 4.704% until August 2027, then switch to a floating rate based on Compounded Secured Overnight Financing Rate plus a spread of 1.115%.

Zions can redeem the notes in full on Aug. 18, 2027, it said.

Proceeds from the offering, expected to settle on Aug. 18, will be used to reduce short-term debt, the company said.