New Issue: Treasury sells $70.03 million of Old Second Bancorp's TARP preferreds

By Susanna Moon

Chicago, March 6 - The U.S. Department of the Treasury sold $70.03 million of series B fixed-rate cumulative perpetual preferred stock issued by Old Second Bancorp, Inc. in a modified Dutch auction.

The preferreds were issued under the Troubled Asset Relief Program.

The agency priced the preferreds at $352.50 per share.

The Treasury will receive all the proceeds.

Treasury sold about 96% of its preferred stock in Old Second Bancorp due to the fact that Treasury did not receive sufficient bids above the minimum price for the security in accordance with the auction procedures.

Issuer:	Old Second Bancorp, Inc.
Issuer:	Series B fixed-rate cumulative preferred stock
Amount:	$70,028,000
Shares:	70,028
Proceeds:	$24,684,870.00
Maturity:	Perpetual
Par:	$1,000
Price:	$352.50
Pricing date:	March 1
Settlement date:	March 11
Distribution:	Rule 144A

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