FNB United Corp. in Asheboro, N.C., said Thursday that it had entered into subscription agreements to raise $75 million in capital.

The $1.9 billion-asset company, which has an agreement to buy Bank of Granite Corp. in a union that will support a pair of struggling North Carolina banks, also said in a regulatory filing that it had amended a settlement agreement with SunTrust Banks Inc. to exit certain debt arrangements at a discount.

The Carlyle Group and affiliates of Oak Hill Capital Partners in April agreed to invest $77.5 million each in FNB United as part of a $310 million capital raise. The subscription agreements, priced at 16 cents a share, are part of the overall fund-raising effort, the filing said.

FNB United also said that it had an agreement with SunTrust where it will settle its debt with the lender for cash equal to 25% of the principal, along with total repayment of unpaid and accrued interest. Last month, the parties had agreed to a settlement where FNB would have repaid the principal at a discounted amount of 35%. (The settlement resolves a $15 million loan SunTrust made to FNB United that at one point was set to partially convert to preferred stock.)

The company announced plans to buy the $841 million-asset Bank of Granite, based in Granite Falls, N.C., on April 27.

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