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By Ru Back Packer Staff, updated Sunday, January 28, 5:48 AM

Slide #294. 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 financial services, including commercial and retail banking, financial management, insurance, and mortgage services to its customers in Georgia, Alabama, South Carolina, Florida, and Tennessee. In addition to its banking operations, Co., through other non-bank subsidiaries, also provides various other financial services such as portfolio management and investment banking, trust, asset management and financial planning services, as well as mortgage services. As of Dec 31 2016, Co. had total assets of $30.10 billion and total deposits of $24.65 billion.

Preferreds: SNV.PRT, SNV.PRC

Open the SNV Page at Ru Back Packer »

Name: Synovus Financial Corp.
Sector: Banking & Savings
Number of ETFs Holding SNV: 60 (see which ones)
Total Market Value Held by ETFs: $917,119,375
Total Market Capitalization: $6,175,000,000
% of Market Cap. Held by ETFs: 14.85%

Open the SNV Page at Ru Back Packer (in a new window) »

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