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Synovus Announces Final Tender Results
 

 

March 7, 2012 – Synovus Financial Corp. (NYSE: SNV) today announced that the previously announced cash tender offer for its outstanding 4.875% Subordinated Notes due February 15, 2013 (the “2013 notes”) expired at 11:59 p.m., New York City time, on March 6, 2012 (the “Expiration Time”).  An aggregate principal amount of approximately $146.1 million of 2013 notes, representing approximately 71% of the outstanding principal amount, were tendered (and not validly withdrawn prior to the withdrawal deadline) in the tender offer. An aggregate principal amount of approximately $145.6 million of 2013 notes were purchased at early settlement on February 22, 2012.

Synovus expects to accept and make payment today for all of the 2013 notes that were validly tendered on or prior to the Expiration Time and not previously purchased at early settlement. Holders of 2013 notes who validly tendered their 2013 notes at or before the Expiration Time but after the early tender time of 5:00 p.m. on February 21, 2012, are eligible to receive $970 per $1,000 principal amount of 2013 notes tendered, and accrued and unpaid interest thereon.

J.P. Morgan Securities LLC served as dealer manager for the tender offer.

This news release shall not be construed as an offer to purchase or a solicitation of an offer to purchase any of the 2013 notes or any other securities. Synovus, subject to applicable law, may postpone the acceptance for purchase of, and payment for, the 2013 notes that were validly tendered on or prior to the Expiration Time and not previously purchased at early settlement.

About Synovus

Synovus is a financial services company with $27 billion in assets based in Columbus, Georgia.  Synovus provides commercial and retail banking, investment, and mortgage services to customers in Georgia, Alabama, South Carolina, Florida, and Tennessee. See Synovus on the web at www.synovus.com.

 

 

 

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