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Fulton Financial Corporation Announces Consideration for Tender Offer for Certain of Its Outstanding Debt Securities
LANCASTER, Pa.--(BUSINESS WIRE)-- Fulton Financial Corporation (“Fulton” or the “Company”) (Nasdaq: FULT) today announced the pricing terms of its previously
About this update from Fulton Financial Corporation
[{"type":"text","content":" LANCASTER, Pa.--(BUSINESS WIRE)--\nFulton Financial Corporation (“Fulton” or the “Company”) (Nasdaq: FULT) today announced the pricing terms of its previously announced cash tender offer (the “Offer”) to purchase its 4.500% Subordinated Notes due 2024 (the “Subordinated Notes”) and its 3.60% Senior Notes due 2022 (the “Senior Notes” and, together with the Subordinated Notes, the “Notes” and each a “series” of Notes) up to the maximum aggregate principal amount (each a “Tender Cap”) specified in the table below. The terms and conditions of the Offer are described in the Offer to Purchase, dated March 16, 2021 (as amended, the “Offer to Purchase”), and the related Letter of Transmittal (the “Letter of Transmittal”).\n\nThe Total Consideration (as defined in the Offer to Purchase) for each series of Notes is set forth in the table below and shall be paid to holders of Notes who validly tender and do not validly withdraw their Notes at or prior to 5:00 p.m., New York City time, on March 29, 2021 (the “Early Tender Date”) and whose Notes are accepted for purchase by the Company. The fixed spread specified for the Subordinated Notes over the yield (“Reference Yield”) based on the bid-price of the Reference U.S. Treasury Security set forth in the table below (as determined pursuant to the Offer to Purchase) was determined at 10:00 a.m., New York City time, today, March 29, 2021, by Piper Sandler & Co., as dealer manager for the Offer (the “Dealer Manager”). The Total Consideration for each series of Notes includes an early tender premium of $30.00 per $1,000 principal amount of Notes validly tendered and not validly withdrawn at or prior to the Early Tender Date and accepted for purchase by the Company (the “Early Tender Premium”).\n\n\n\nTitle of Security\n\n\n\n \n\n\n\nCUSIP\n\n\nNumber\n\n\n\n \n\n\n\nAggregate Principal Amount Outstanding\n\n\n\n \n\n\n\nAggregate Maximum Principal Amount (Tender Cap)\n\n\n\n \n\n\n\nReference U.S. Treasury Security\n\n\n\n \n\n\n\nReference\nYield\n\n\n\n \n\n\n\nFixed Spread\n(basis points)\n\n\n\n \n\n\n\nEarly\nTender\nPremium(1) \n\n\n\n \n\n\n\nTotal\nConsideration (1)(2)\n\n\n\n\n\n4.500% Subordinated Notes due 2024\n\n\n\n \n\n\n\n360271 AJ9\n\n\n\n \n\n\n\n$250,000,000\n\n\n\n \n\n\n\n$75,000,000\n\n\n\n \n\n\n\nUST 0.25% due March 15, 2024\n\n\n\n \n\n\n\n0.314%\n\n\n\n \n\n\n\n+ 65\n\n...