Great Southern raises bond offering

Great Southern Bancorp Inc. (Nasdaq: GSBC) raised the total of its public bond offering a day after listing it.

The Springfield-based holding company of Great Southern Bank announced yesterday the offering of subordinated notes moved up to $75 million, $25 million more than the original listing on Monday, according to a news release.

Officials cited market demand for increasing the aggregate amount of the notes due Aug. 15, 2026. Subordinated debt refers to a loan or security that ranks less than other loans or securities. In the case of a default, subordinated debtholders would be paid after senior debtholders, according to Investopedia.com.

The notes initially will carry interest of 5.3 percent annually, according to the release.

New York-based Sandler O'Neill & Partners LP is serving as underwriter for the offering, of which Great Southern plans to use the proceeds for such general corporate purposes as capital for organic growth or potential acquisitions.

GSBC shares were trading at $40.81 as of 9:40 a.m., compared with a 52-week range of $34.48 to $52.94.