Old Second Bancorp in Aurora, Ill., raised $45 million from a debt sale.

The $2.1 billion-asset company sold 5.75% fixed-to-floating rate senior notes due 2026. Old Second combined the proceeds with available cash to repay all its outstanding subordinated debt due 2018 and senior secured term debt.

Keefe, Bruyette & Woods was financial adviser and Barack Ferrazzano Kirschbaum & Nagelberg was legal counsel.

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