Press release
Huntington Bancshares Incorporated Announces Launch Of Private Offering Of Subordinated Notes
COLUMBUS, Ohio, Aug. 9, 2021 /PRNewswire/ -- Huntington Bancshares Incorporated today announced that it has commenced a private offering of subordinated notes
About this update from Huntington Bancshares Incorporated
[{"type":"text","content":"COLUMBUS, Ohio, Aug. 9, 2021 /PRNewswire/ -- Huntington Bancshares Incorporated today announced that it has commenced a private offering of subordinated notes (the \"Notes\"). The Notes will be unsecured and subordinated in right of payment to the payment of Huntington's existing senior debt and will rank equal in right of payment to all of Huntington's existing and future subordinated indebtedness that is not specifically stated to be junior to the Notes.\n\n \n \n \n \n \n \n\n \nHuntington intends to use the net proceeds from this offering for general corporate purposes, which may include, among other things, supporting asset growth of its subsidiaries. \nPromptly after this offering, Huntington expects to commence a private exchange offer in which Huntington will offer to certain eligible holders of the outstanding 4.350% Subordinated Notes due 2023 that are obligations of Huntington Bancshares Incorporated and the outstanding 6.25% Subordinated Notes due 2022, 4.60% Subordinated Notes due 2025, and 4.270% Subordinated Notes due 2026 that are obligations of The Huntington National Bank the opportunity to exchange such notes for additional Notes (such additional Notes, the \"Exchange Notes\"). The Exchange Notes are expected to constitute a further issuance of, and form a single series with, the Notes. The offering of the Notes is not contingent on the proposed private exchange offer.\nThe Notes are being offered in a private offering to persons reasonably believed to be qualified institutional buyers in the U.S. pursuant to Rule 144A under the Securities Act of 1933, as amended (the \"Securities Act\"), and to certain persons outside of the U.S. pursuant to Regulation S under the Securities Act. The Notes initially will not be registered under the Securities Act, or the securities laws of any state, and may not be offered or sold in the U.S. without registration or an applicable exemption from the registration requirements. Huntington will enter into a registration rights agreement with respect to the Notes. Completion of the offering is subject to market and other conditions. \nThis press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.\nAbout Hunting...