By Lisa Kerner
Charlotte, N.C., Nov. 6 – First Community Financial Partners, Inc. issued $9.8 million of 7% eight-year subordinated notes on Oct. 31.
The notes were issued in denominations of $10,000, and integral multiples thereof, to accredited investors, according to an 8-K filing with the Securities and Exchange Commission.
Interest on the notes is payable semiannually on March 31 and Sept. 30.
Beginning on the fifth anniversary of the issuance date (or an earlier date if the notes cease to be deemed tier 2 capital), First Community, may redeem the notes at a redemption price equal to the principal amount outstanding plus accrued interest, the filing stated.
First Community is a Joliet, Ill.-based bank.
| Issuer: | First Community Financial Partners, Inc.
|
| Issue: | Subordinated notes
|
| Amount: | $9.8 million
|
| Coupon: | 7%
|
| Maturity: | Oct. 31, 2022
|
| Call option: | At par after five years
|
| Settlement date: | Oct. 31
|
| Distribution: | Private placement
|
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