Old National Bancorp issues $450M subordinated notes due 2036 at 5.768% fixed-to-floating

OLD NATIONAL BANCORP /IN/

Issued $450M aggregate principal of 5.768% Fixed-to-Floating Rate Subordinated Notes due 2036.
Initial fixed rate 5.768% to Feb 2031, then floating at 3-month SOFR + 220 bps.
Net proceeds of ~$446.6M used for general corporate purposes.
Underwriters led by Keefe, Bruyette & Woods and Morgan Stanley.
Notes rank junior to senior debt and are structurally subordinated to subsidiary liabilities.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

OLD NATIONAL BANCORP /IN/ entered into Underwriting Agreement with Keefe, Bruyette & Woods, Inc. and Morgan Stanley & Co. LLC, as representatives of the several underwriters valued at $450,000,000 aggregate principal amount (effective 2026-01-26).

Action: entry
Agreement: underwriting
Counterparty: Keefe, Bruyette & Woods, Inc. and Morgan Stanley & Co. LLC, as representatives of the several underwriters
Value: $450,000,000 aggregate principal amount
Effective: 2026-01-26

Exact text from the filing

The Company entered into an Underwriting Agreement, dated January 26, 2026 (the "Underwriting Agreement"), with Keefe, Bruyette & Woods, Inc. and Morgan Stanley & Co. LLC, as representatives of the several underwriters listed on Schedule A attached thereto (collectively, the "Underwriters").

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291 material agreements filed in the last 30 days. Browse all material agreements →

OLD NATIONAL BANCORP /IN/ filing history →

Source: SEC EDGAR

accession 0001104659-26-007980

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