Press release
Huntington Bancshares Incorporated Announces Early Results And Upsizing Of Debt Tender Offer
COLUMBUS, Ohio, Nov. 3, 2020 /PRNewswire/ -- Huntington Bancshares Incorporated (Nasdaq: HBAN) (the "Company") today announced the early results and upsizing
About this update from Huntington Bancshares Incorporated
[{"type":"text","content":"COLUMBUS, Ohio, Nov. 3, 2020 /PRNewswire/ -- Huntington Bancshares Incorporated (Nasdaq: HBAN) (the \"Company\") today announced the early results and upsizing of the previously announced tender offers (the \"Tender Offer\") to purchase the applicable aggregate maximum principal amount (each the \"Tender Cap\") of its outstanding notes listed in the table below (the \"Notes\"). The Company has amended the terms of the Tender Offer to increase the Tender Cap applicable to the 2.300% Senior Notes due 2022 from $200 million to $300 million.\n\n \n \n \n \n \n \n\n \nAs of 5:00 p.m., New York City time, on November 2, 2020 (the \"Early Tender Deadline\"), approximately $1.1 billion aggregate principal amount of Notes were validly tendered and not validly withdrawn. The table below identifies the principal amount of each series of Notes validly tendered and not validly withdrawn and the principal amount the Company has accepted for purchase:\nCUSIP Number\nTitle of Security\nPrincipal Amount Outstanding Prior to the Tender Offer\nAggregate Maximum Principal Amount (Tender Cap)\nPrincipal Amount Tendered (1)\nPrincipal Amount Accepted for Purchase\nFinal Proration Factor(2)\n446150AJ3\n3.150% Senior Notes due 2021\n$1,000,000,000\n$200,000,000\n$531,400,000\n$200,000,000\n37.7%\n446150AK0\n2.300% Senior Notes due 2022\n$1,000,000,000\n$300,000,000\n$553,428,000\n$299,995,000\n54.3%\n(1)\nAs of the Early Tender Deadline.\n(2)\nThe final proration factor has been rounded to the nearest tenth of a percentage point for presentationpurposes.\n \nThe amount of each series of Notes accepted for purchase was determined pursuant to the terms and conditions of the Tender Offer as set forth in the Offer to Purchase dated October 20, 2020 (the \"Offer to Purchase\").\nNotes not accepted for purchase will be promptly credited to the account of the registered holder of such Notes with The Depository Trust Company and otherwise returned in accordance with the Offer to Purchase.\nHolders of Notes validly tendered and not validly withdrawn on or before the Early Tender Deadline and accepted for purchase will be eligible to receive the applicable Total Tender Offer Consideration (as defined in the Offer to Purchase), which includes an early tender premium of $30.00 per $1,000 principal amount of Notes. The applicable Total Tender Offer Consideration wi...