Wintrust in Illinois to Issue Subordinated Debt

Wintrust Financial (WTFC) of Rosemont, Ill., is planning to raise capital by issuing subordinated debt.

The $18 billion-asset company said in a regulatory filing Monday that it intends to use the proceeds for general purposes that could include investments at the holding company level, providing capital to support growth, acquisitions and reducing or refinancing existing debt.

A prospectus for the issuance did not disclose the amount of debt to be sold.

Wintrust, which operates 15 banks in the Midwest, has recently focused on expanding Town Bank, its only Wisconsin-chartered bank. The company in April bought a Pewaukee, Wis., branch of National Bank of Moline, Ill. It also bought 11 Wisconsin branches from the $4.4 billion-asset Talmer Bancorp (TLMR).

RBC Capital Markets is the book-running manager for the offering.