Synovus announces senior notes offering
Synovus Financial Corp (NYSE: SNV) has announced an underwritten public offering of senior notes due 2030. The company plans to use the net proceeds for general corporate purposes, including potential repayment of existing debt. BofA Securities and Morgan Stanley will serve as active joint book-running managers, while Synovus Securities will act as a passive book-running manager. The offering is being conducted under an effective registration statement under the Securities Act of 1933.
Synovus Financial Corp (NYSE: SNV) ha annunciato un'offerta pubblica sottoscritta di obbligazioni senior in scadenza nel 2030. L'azienda prevede di utilizzare il ricavato netto per scopi aziendali generali, inclusa la potenziale restituzione di debiti esistenti. BofA Securities e Morgan Stanley agiranno come gestori principali attivi dell'emissione, mentre Synovus Securities fungerà da gestore secondario passivo. L'offerta è condotta sotto una registrazione efficace secondo il Securities Act del 1933.
Synovus Financial Corp (NYSE: SNV) ha anunciado una oferta pública suscrita de notas senior con vencimiento en 2030. La empresa planea utilizar los ingresos netos para fines corporativos generales, incluida la posible devolución de deudas existentes. BofA Securities y Morgan Stanley actuarán como gerentes conjuntos activos de la emisión, mientras que Synovus Securities funcionará como gerente pasivo. La oferta se está llevando a cabo bajo una declaración de registro efectiva según la Ley de Valores de 1933.
시노버스 파이낸셜 공사 (NYSE: SNV)는 2030년 만기 senior notes를 위한 인수 공개 발행을 발표했습니다. 회사는 기존 부채 상환을 포함한 일반 기업 목적으로 순수익을 사용할 계획입니다. BofA Securities와 Morgan Stanley는 공동 주간 관리자로 활동하며, Synovus Securities는 수동 주간 관리자로 역할을 수행할 것입니다. 이 발행은 1933년 증권법에 따른 유효한 등록 명세서에 따라 실시되고 있습니다.
Synovus Financial Corp (NYSE: SNV) a annoncé une offre publique souscrite de titres senior d'une échéance en 2030. L'entreprise prévoit d'utiliser le produit net à des fins d'entreprise générales, y compris le remboursement potentiel de dettes existantes. BofA Securities et Morgan Stanley seront les gestionnaires principaux actifs de cette émission, tandis que Synovus Securities agira en tant que gestionnaire passif. L'offre est effectuée en vertu d'une déclaration d'enregistrement efficace selon la loi sur les valeurs mobilières de 1933.
Synovus Financial Corp (NYSE: SNV) hat eine unterzeichnete öffentliche Angebot von vorrangigen Anleihen mit Fälligkeit im Jahr 2030 angekündigt. Das Unternehmen plant, den Nettogewinn für allgemeine Unternehmenszwecke zu verwenden, einschließlich der potenziellen Rückzahlung bestehender Schulden. BofA Securities und Morgan Stanley werden als aktive gemeinsame Hauptmanager auftreten, während Synovus Securities als passiver Hauptmanager fungiert. Das Angebot wird unter einer effektiven Registrierungsstatement gemäß dem Securities Act von 1933 durchgeführt.
- Potential debt restructuring through new senior notes offering
- Strong institutional backing with BofA Securities and Morgan Stanley as joint book-runners
- Increasing debt load with new notes offering
- Potential impact on financial leverage ratios
Insights
This senior notes offering represents a significant debt financing move by Synovus Financial Corp. With approximately
The 2030 maturity provides a long-term financing window, though the absence of specific terms (interest rate, offering size) limits full assessment. The stated use for general corporate purposes and debt repayment suggests potential liability management, which could optimize their debt profile and potentially reduce interest expenses.
For a regional bank of this size, maintaining diverse funding sources is important for sustainable growth. This offering demonstrates proactive capital management and access to public debt markets, though investors should monitor the final terms and impact on the company's leverage ratios.
BofA Securities, Inc. and Morgan Stanley & Co. LLC will serve as the active joint book-running managers for the offering, and Synovus Securities, Inc. will serve as a passive book-running manager for the offering.
Synovus is conducting the offering pursuant to an effective registration statement under the Securities Act of 1933, as amended (the “Securities Act”). 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 BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street,
Synovus Financial Corp.
Synovus Financial Corp. is a financial services company based in
Forward-Looking Statements
This press release and certain of our other filings with the SEC contain statements that constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. You can identify these forward-looking statements through Synovus’ use of words such as “believes,” “anticipates,” “expects,” “may,” “will,” “assumes,” “predicts,” “could,” “should,” “would,” “intends,” “targets,” “estimates,” “projects,” “plans,” “potential” and other similar words and expressions of the future or otherwise regarding the outlook for Synovus’ future business and financial performance and/or the performance of the financial services industry and economy in general. These forward-looking statements include, among others, our expectations regarding the expected use of the net proceeds from the offering; our future operating and financial performance; expectations on our growth strategy, expense and revenue initiatives, capital management, balance sheet management, and future profitability; expectations on credit quality and performance; and the assumptions underlying our expectations. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties which may cause the actual results, performance or achievements of Synovus to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on the current beliefs and expectations of Synovus’ management and are subject to significant risks and uncertainties. Actual results may differ materially from those contemplated by such forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Many of these factors are beyond Synovus’ ability to control or predict.
These forward-looking statements are based upon information presently known to Synovus’ management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in Synovus’ filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2023, under the captions “Forward-Looking Statements” and “Risk Factors” and in Synovus’ quarterly reports on Form 10-Q and current reports on Form 8-K. We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations and speak only as of the date that they are made. We do not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as otherwise may be required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241029035239/en/
Media:
Audria Belton
Media Relations
media@synovus.com
Investor:
Jennifer H. Demba, CFA
Investor Relations
investorrelations@synovus.com
Source: Synovus Financial Corp.
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