Old Second Bancorp to redeem $32.6 million 7.8% trust preferreds

By Sarah Lizee

Olympia, Wash., Jan. 28 – Old Second Bancorp, Inc. plans to redeem $32,604,000 7.8% subordinated debentures due June 30, 2033 relating to the outstanding 7.8% cumulative trust preferred securities issued by Old Second Capital Trust I on March 2, according to an 8-K filing with the Securities and Exchange Commission.

The redemption price for the debentures will be par plus accrued interest to the redemption date, and the redemption price for the trust preferreds will be 100% of the liquidation amount plus accrued distributions to the redemption date.

Old Second is an Aurora, Ill., bank holding company.

© 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.