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Fulton Financial Corporation Announces the Early Tender Results of its Cash Tender Offer for Certain of Its Outstanding Debt Securities
LANCASTER, Pa.--(BUSINESS WIRE)-- Fulton Financial Corporation (“Fulton” or the “Company”) (Nasdaq: FULT) today announced that, pursuant to 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 that, pursuant to 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, approximately $143.3 million in aggregate principal amount of Subordinated Notes and approximately $70.1 million in aggregate principal amount of Senior Notes were validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on March 29, 2021 (the “Early Tender Date”). 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 following table sets forth certain information regarding the Notes and the Offer, including the aggregate principal amount of each series of Notes that was validly tendered and not validly withdrawn at or prior to the Early Tender Date:\n\n\n\nTitle of\nSecurity\n\n\n \n\nCUSIP\nNumber\n\n\n \n\nAggregate\nPrincipal\nAmount Outstanding\nPrior to the\nTender Offer\n\n\n \n\nAggregate\nMaximum\nPrincipal\nAmount\n(Tender\nCap)\n\n\n \n\nAggregate\nPrincipal Amount\nTendered(1)\n\n\n \n\nProration\nFactor(2)\n\n\n \n\nAggregate\nPrincipal Amount\nAccepted for\nPurchase\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\n$143,299,000\n\n\n\n \n\n\n\n52.4%\n\n\n\n \n\n\n\n$75,000,000\n\n\n\n\n\n3.60% Senior Notes due 2022\n\n\n\n \n\n\n\n360271 AK6\n\n\n\n \n\n\n\n$125,000,000\n\n\n\n \n\n\n\n$60,000,000\n\n\n\n \n\n\n\n$70,141,000\n\n\n\n \n\n\n\n85.6%\n\n\n\n \n\n\n\n$60,000,000\n\n\n\n\n_____________________________\n\n(1) As of the Early Tender Date.\n(2) Rounded to the nearest tenth of a percent for presentation purposes.\n\nBecause the aggregate principal amount of Subordinated Notes and Senior Notes exceeded the applicable Tender Caps, the Subordinated and Senior Notes validly tendered and not validly withdrawn will be accepted...