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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Friday, August 7, 4:33 PM

Slide #385. Synovus Financial Corp. Preferred Stock Offering

Company: Synovus Financial Corp. (NYSE:SNV)
Date announced: 7/22/2013
Shares Offered: 5,200,000
Date of Pricing: 7/23/2013
Price Per Share: $25
Preferred Stock Offering Details: Synovus Financial Corp. (NYSE:SNV) today announced the commencement of an underwritten public offering of $130 million of Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C. Synovus intends to use the net proceeds from the offering together with the proceeds of its recently announced $185 million common stock offering and internally available funds (including a $680 million dividend from its wholly owned subsidiary, Synovus Bank) to fund the redemption of all 967,870 shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A, issued to the U.S. Treasury through the Capital Purchase Program established under the Troubled Asset Relief Program ("TARP"), for an aggregate purchase price of $967.87 million. --updated 7/23 - Synovus Financial Corp. (NYSE:SNV) (the "Company") today announced it has priced a public offering of 5.2 million shares of its 7.875% Series C Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock ("Series C Preferred Stock") at $25 per share.

Synovus Financial is a financial services company and a bank holding company. Through its subsidiary bank, Synovus Bank, Co. provides commercial banking services and retail banking services. Co.'s commercial banking services include treasury management, asset management, capital markets services, institutional trust services and commercial, financial and real estate loans. Co.'s retail banking services include accepting customary types of demand and savings deposits accounts; mortgage, installment and other consumer loans; investment and brokerage services; safe deposit services; automated banking services; automated fund transfers; and Internet-based banking services.

Preferreds: SNV.PRT, SNV.PRC, SNV.PRD, SNV.PRE


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Name:  Synovus Financial Corp
Website:  www.synovus.com
Sector:  Banking & Savings
Number of ETFs Holding SNV:  72 (see which ones)
Total Market Value Held by ETFs:  $496,718,765
Total Market Capitalization:  $2,968,000,000
% of Market Cap. Held by ETFs:  16.74%
 

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