Fitch Rates FMBI's Senior Notes 'BBB-'

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NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has assigned a 'BBB-' rating to the $115 million senior unsecured debt issuance by First Midwest Bancorp (FMBI). The senior notes are non-callable, bear a coupon of 5.875% and will mature on Nov. 22, 2016. The debt offering also includes a coupon step-up feature, which would require FMBI to pay an additional 25 basis points (bps) per rating notch per rating agency under investment grade up to 200bps.

Proceeds of the offering are intended to be used to help facilitate the company's repayment of $193 million of preferred stock issued to the U.S. Treasury, under the Treasury's Capital Purchase Program (TARP).

Additional information is available at www.fitchratings.com. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'Global Financial Institutions Rating Criteria', Aug. 16, 2011;

--'Bank Holding Companies', Aug. 16, 2011.

Applicable Criteria and Related Research:

Global Financial Institutions Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=649171

Bank Holding Companies

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=648612

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Fitch RatingsPrimary Analyst:Doriana Gamboa, +1-212-908-0865DirectorFitch, Inc.One State Street PlazaNew York, NY 10004orSecondary Analyst:Justin Fuller, CFA, +1-312-368-2057DirectororCommittee Chairperson:Christopher D. Wolfe, +1-212-908-0771Managing DirectororMedia Relations:Brian Bertsch, New York, +1-212-908-0549[email protected]

Source: Fitch Ratings

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