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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.,
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.
Synovus is a financial services company with $27 billion in assets based in