Huntington Bancshares Incorporated Announces Extension Of Early Participation Date And Early Results Of Its Private Exchange Offers

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[{"type":"text","content":"COLUMBUS, Ohio, Aug. 23, 2021 /PRNewswire/ -- Huntington Bancshares Incorporated (\"Huntington\") today announced that it is extending the early participation date for its series of private exchange offers (the \"exchange offers\") to certain eligible holders to exchange Huntington's 4.350% Subordinated Notes due 2023 and The Huntington National Bank's 6.250% Subordinated Notes due 2022, 4.600% Subordinated Notes due 2025 and 4.270% Subordinated Notes due 2026 (collectively, the \"old notes\") for Huntington's 2.487% Fixed-to-Fixed Rate Subordinated Notes due 2036 (the \"new notes\"). The new notes offered are expected to be a further issuance of, and will be in addition to, the 2.487% Fixed-to-Fixed Rate Subordinated Notes due 2036 (the \"original notes\") that Huntington issued for cash on August 16, 2021, in the aggregate principal amount of $500 million. The early participation date was extended from 5:00 p.m. (New York City time) on August 20, 2021 to 11:59 p.m. (New York City time) on September 3, 2021, the time and date the offer expires (the \"extended early participation date,\" or, the \"expiration date\"). The exchange offers are being conducted on the terms and subject to the conditions set forth in a confidential offering memorandum dated August 9, 2021 (the \"offering memorandum\").\n\n \n \n \n \n \n \n\n \nHolders who validly tendered and did not validly withdraw old notes at or prior to 5:00 p.m. (New York City time) on August 20, 2021, and whose tenders are accepted for exchange by Huntington, will receive the total exchange consideration (which includes an early participation amount of $30) for each $1,000 principal amount of old notes, as determined in accordance with the formula set forth in the offering memorandum, on the early participation settlement date, which is expected to be August 24, 2021 (the \"early participation settlement date\"). Holders who validly tender old notes after 5:00 p.m. (New York City time) on August 20, 2021, but at or prior to the expiration date, and whose old notes are accepted for exchange by Huntington, will now also receive the total exchange consideration (which includes an early participation amount of $30). The final settlement date for old notes validly tendered after 5:00 p.m. (New York City time) on August 20, 2021, but prior to the expiration date, is expected to be S...

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