- News Releases
- Synovus Announces Earnings for the First Quarter
- Brown Named CEO of Tallahassee State Bank
- Kamensky Named to Operation HOPE Southeastern Board of Directors
- Synovus Announces Earnings for the Fourth Quarter
- Synovus Ranked Among Nation’s Top Financial Institutions For Small Business Loans
- Synovus Announces Earnings for Third Quarter 2014
- Synovus Reports Earnings for the Second Quarter of 2014
|Synovus Announces Exchange Offer
September 14, 2009 - Synovus Financial Corp. (NYSE: SNV) (the “Company”) today announced an offer to exchange (the “Exchange Offer”) up to 50 million newly issued shares of the Company’s common stock for any and all of its outstanding 4.875% Subordinated Notes Due 2013 (the “2013 Notes”).
Under the terms of the Exchange Offer, the Company will issue a number of shares of common stock having a value equal to $750 for each $1,000 principal amount of 2013 Notes validly tendered and accepted for exchange. The Company also will issue to note holders who validly tender their 2013 Notes at or before 5:00 P.M. (
The Exchange Offer will be effected pursuant to an Offer to Exchange and related letter of transmittal (the “Offer Documents”) under an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), provided by Section 3(a)(9) of the Securities Act. The Exchange Offer is being made exclusively to holders of 2013 Notes. Copies of the Offer Documents may be obtained upon request by contacting the information agent for the Exchange Offer, Global Bondholder Services Corporation, 65 Broadway,
The Company has retained J.P. Morgan Securities Inc. (“J.P. Morgan”) as its exclusive financial advisor in connection with the Exchange Offer. The Company is paying J.P. Morgan customary fees for its services and has agreed to indemnify it for certain liabilities. J.P. Morgan’s compensation is in no way contingent on the results or the success of the Exchange Offer. J.P. Morgan has not been retained to, and will not, solicit acceptances, convey offers or make any recommendations to note holders with respect to the Exchange Offer.
Synovus is a financial services holding company with approximately $34 billion in assets based in