Old National planning to sell $150 million 10-year senior notes offer

By Aleesia Forni

Virginia Beach, Aug. 11 – Old National Bancorp is planning to sell $150 million of senior notes due 2024, according to a market source and a 424B3 filed with the Securities and Exchange Commission.

Sandler O’Neill + Partners LP is the bookrunner.

The company intends to use the net proceeds for general corporate purposes, which may include providing capital to support the growth of the business, acquisitions of LSB Financial Corp. and Founders Financial Corp., acquisitions of other financial institutions and repurchases of common stock.

Old National is a financial holding company based in Evansville, Ind.

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