Huntington National Bank(Nasdaq: HBAB) Finalizes Offer to Purchase for Cash Subordinated Bank Notes
Windsor, Alberta 11/23/2009 05:40 PM GMT (TransWorldNews)
Huntington Bancshares Incorporated (Nasdaq: HBAB)The Huntington National Bank declared the final results of its offer to purchase subordinated bank notes having an aggregate principal amount up to $400,000,000
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The Tender Offer expired at 11:59 p.m., New York City time, on November 19, 2009 (the "Expiration Date"). As of the Expiration Date, $370,829,000 aggregate principal amount of subordinated bank notes were validly tendered for purchase, according to information provided by Global Bondholder Services Corporation, the Depositary and Information Agent with respect to the Tender Offer. Huntington has accepted for purchase all subordinated bank notes validly tendered and not validly withdrawn. This will result in an aggregate purchase price of $338,858,121, which includes the applicable accrued and unpaid interest on those subordinated bank notes. The expected settlement date for the Tender Offer is November 23, 2009. After settlement of the Tender Offer, $429,171,000 aggregate principal amount of subordinated bank notes that were subject to the offer to purchase will remain outstanding. "We are very pleased with the results of the tender offer," said Stephen D. Steinour, chairman, president, and chief executive officer. "Our ability to successfully raise capital this year afforded us the flexibility to repurchase the subordinated bank notes subject to the tender offer."
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