Synovus Financial (SNV) priced an underwritten public offering of $500 million of senior notes due 2030.
An annual fixed rate of 6.168% applies from Nov. 1 to Oct. 31, 2029, and from
Nov. 1, 2029, to Oct. 31, 2030, the notes will carry interest in accordance with the formula for the secured overnight financing rate described in the prospectus supplement, plus 2.347%, the company said Tuesday in a statement.
The offering is scheduled to close Friday, and net proceeds will be for general corporate purposes, which may include the repayment of existing debt.
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