First Midwest Bancorp, Inc. | Stephens

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First Midwest Bancorp, Inc.

$150.0 Million 09/29/2016 Depository Complete
Public Companies
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Transaction Details

  • On September 29, 2016, First Midwest Bancorp, Inc. (“First Midwest” or “the Company”) completed a $150.0 million offering of 5.875% fixed rate subordinated notes due September 2026

Issue ratings:

  • Baa2 (Moody’s) ‒ BB+ (S&P)
  • BB+ (Fitch)
  • The transaction proceeds will be used for general corporate purposes and to repay the existing $115 million in senior notes

About the company

Founded in 1982, First Midwest Bancorp, Inc. (the “Company”) is one of Illinois’ largest independent publicly-traded banking companies. Pro forma for the recently announced acquisition of Standard Bancshares, Inc., the Company will have assets of $13.6B, $9.7B in gross loans and $11.1B in deposits. The Company offers a full suite of commercial and retail banking products and wealth management services to its customers through its subsidiary, First Midwest Bank. The Company operates primarily in the Chicago metropolitan area with an additional presence in northwest Indiana, central and western Illinois, and eastern Iowa through over 110 banking locations.

Sources: Company documents.
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    The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from Stephens Inc.’s Equity Syndicate Desk, at Stephens Inc., 111 Center Street, Little Rock, AR 72201, ATTN: Equity Syndicate Desk, or from the Securities and Exchange Commission’s website at at the following link: A registration statement relating to these securities has been filed with the Securities and Exchange Commission. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.