By Wendy Van Sickle
Columbus, Ohio, Oct. 4 – First Business Financial Services, Inc. issued $15 million of 8% 10-year subordinated notes to some accredited investors, according to a news release.
The issuer may redeem the notes in whole or in part at any time starting Sept. 29, 2028 and in whole upon other events, in each case at a redemption price equal to par plus accrued interest.
Proceeds will be used for general corporate purposes, including supporting the bank’s growth.
The bank holding company is based in Madison, Wis.
| Issuer: | First Business Financial Services, Inc.
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| Amount: | $15 million
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| Issue: | Subordinated notes
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| Maturity: | Sept. 29, 2033
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| Coupon: | 8%
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| Call option: | At par on any date from Sept. 29, 2028 onward
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| Settlement date: | Sept. 29
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