Horizon Bancorp, Inc., the parent company of Horizon Bank, today announced the closing of a private placement of $100 million in aggregate principal amount of its 7.00% Fixed-to-Floating Rate Subordinated Notes due 2035.
The notes will initially bear interest at a fixed rate of 7.00% per annum until September 15, 2030, after which time the interest rate will reset quarterly to a floating rate equal to a benchmark rate, which is expected to be the then-current three-month term Secured Overnight Financing Rate (SOFR) plus 360 basis points. The notes will mature on Sept. 15, 2035.
Horizon Bancorp, Inc. is the $7.7 billion-asset (as of June 30, 2025) commercial bank holding company for Horizon Bank, which is headquartered in Michigan City, Indiana and serves customers across diverse and economically attractive Midwestern markets through convenient digital and virtual tools, as well as through branches in Indiana and Michigan. For more information, visit horizonbank.com.
Warner Norcross + Judd LLP represented Horizon Bancorp, Inc. in the transaction.
The Warner transaction team was led by Charlie Goode and included Josie Boucher, Sean Cook, Justin Stemple, Mark Wassink, Dan Persinger, Sarah Harper, Alan Jurcak, Sam Poortenga, Christian Rhoades, Malaina Snyder, Jeff Ott and Lindsey Jager.
