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.