Synovus Financial Corp. announced the pricing of its previously-announced underwritten public offering of $350 million of senior notes due 2025 (the “Notes”). The Notes will bear interest at a rate of 5.200% and will be issued at a price equal to 99.890% of their principal amount. The offering is expected to close on August 11, 2022, subject to customary closing conditions. Synovus intends to use the net proceeds from the offering for general corporate purposes, which may include the repayment of existing debt.
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Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC are the joint book-running managers for the offering, and Citigroup Global Markets Inc., Wells Fargo Securities, LLC, Keefe, Bruyette & Woods, Inc. and Synovus Securities, Inc. are the co-managers for the offering.
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Synovus 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 separate 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 final prospectus supplement and accompanying prospectus relating to the offering can be obtained by contacting Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, e-mail: prospectus@morganstanley.com or Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526 or e-mail: prospectus-ny@ny.email.gs.com. Potential investors should first read the applicable prospectus supplement and accompanying prospectus, the registration statement and the other documents that Synovus has filed with the Securities and Exchange Commission in connection with the offering.
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