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Synovus Announces Common Stock Offering
 
 

September 14, 2009 - Synovus Financial Corp. (NYSE: SNV) (the “Company”) today announced an underwritten public offering of up to $350 million of shares of its common stock.  The underwriters will have a 30-day option to purchase up to an additional 15% of the number of shares offered.  Proceeds from the offering will be used for working capital and general corporate purposes. 

 

J.P. Morgan Securities Inc. will serve as sole book-running manager of the offering, and Sandler O’Neill + Partners, L.P. and SunTrust Robinson Humphrey, Inc. will serve as co-managers.

 

The Company is conducting the offering pursuant to an effective registration statement under the Securities Act of 1933, as amended.  The offering is being made solely by means of a prospectus supplement and accompanying prospectus.  This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.  A copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering can be obtained by contacting J.P. Morgan Securities Inc., 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, Attention: Prospectus Department, (866) 430-0686.  Potential investors should first read the prospectus supplement and accompanying prospectus, the registration statement and the other documents that the Company has filed with the Securities and Exchange Commission in connection with the offering.  Investors may obtain these documents free of charge by visiting the SEC's website at www.sec.gov.

 

About Synovus

 

Synovus is a financial services holding company with approximately $34 billion in assets based in Columbus, Georgia.  Synovus provides commercial and retail banking, as well as investment services, to customers through 30 banks, 330 offices, and 467 ATMs in Georgia, Alabama, South Carolina, Florida and Tennessee.

 
Contact
Patrick A. Reynolds
Title: Director of Investor Relations
Phone: (706) 649-4973