By Aleesia Forni
Virginia Beach, Aug. 12 – Old National Bancorp sold an upsized $175 million of 4.125% senior notes (expected: A3) due 2024 at par to yield Treasuries plus 168 basis points on Tuesday, according to a FWP filed with the Securities and Exchange Commission.
Sandler O’Neill + Partners LP was 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.
| Issuer: | Old National Bancorp
|
| Amount: | $175 million, upsized from $150 million
|
| Description: | Senior notes
|
| Maturity: | Aug. 15, 2024
|
| Bookrunner: | Sandler O’Neill + Partners LP
|
| Coupon: | 4.125%
|
| Price: | Par
|
| Yield: | 4.125%
|
| Spread: | Treasuries plus 168 bps
|
| Trade date: | Aug. 12
|
| Settlement date: | Aug. 15
|
| Ratings: | Moody’s: A3
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
