Synovus announces senior notes offer

On By Littum





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 act as active joint accounting managers, while Synovus Securities will act as a passive bookkeeping manager. The offering is being conducted under an effective registration statement under the Securities Act of 1933.

Synovus Financial Corp (NYSE: SNV) has announced un’offerta pubblica sottoscritta di obbligazioni senior i scadenza nel 2030. L’azienda prevede di utilizzare il ricavato netto per scopi aziendali generali, inclusa la potential restituzione di debiti existenti. BofA Securities e Morgan Stanley agiranno come gestori principali attivi dell’emissione, mentre Synovus Securities fungerà da gestore secondario passivo. The offer is conducted under an effective registration according to the Securities Act of 1933.

Synovus Financial Corp (NYSE: SNV) has announced an offer for a public listing of senior convencimiento in 2030. La empresa plana utilizar los ingresos netos para fines corporatives generales, incluita la posible devoluto de deudas existentes. BofA Securities y Morgan Stanley actuarán como gerentes conjuntos actives de la emission, while Synovus Securities funcionará como gerente pasivo. The offer is being completed under a declaration of effective registration according to the Securities Act of 1933.

สุที่วิติต้ามี่ไม่ (NYSE: SNV) has announced the issuance of 2030 senior notes. The company has a pre-existing 부채 상환을 에성 아이 우리 하이스 사이읽을 BofA Securitiesവോ Morgan StanleyActing as a joint weekly manager, Synovus Securities는 동이 주간 나나이드로 나다의 하다. 이 에성은 1933년 살권복하에의 아이스 나이 명세서에 에성 싈늋싈늋.

Synovus Financial Corp (NYSE: SNV) announced une offre publicque 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 reboursement potential de theses existinges. BofA Securities a Morgan Stanley seront les gestionnaires principaux actifs de cette émission, tandis que Synovus Securities agira en tant que gestionnaire passive. The offer is effected by virtue of a declaration of effective registration according to the law on securities of 1933.

Synovus Financial Corp (NYSE: SNV) has announced an unterzeichnete öffentliche Angebot von vorrangigen Anleihen mit Fälligkeit im Jahr 2030 angekündigt. Das Unternehmen plan, den Nettogewinn für allgemeine Unternehmenszweck zu verwenden, including the potential Rückzahlung bestehender Schulden. BofA Securities un Morgan Stanley also became active joint Hauptmanager auftenten, under Synovus Securities als passive Hauptmanager functioned. Das Angebot wird unter einer effikkenen Registrijstingstatement gemäß dem Securities Act von 1933 gebruicht.

Positive


  • Potential debt restructuring through new senior notes offerings


  • Strong institutional backing with BofA Securities and Morgan Stanley as joint book-runners


Negative


  • Increasing debt burden with new notes


  • Potential impact on financial leverage ratios


Insight


This senior note offering represents a significant debt financing draw by Synovus Financial Corp. With approx 60 billion dollars in assets, this offering is likely to strengthen their capital structure and provide operational flexibility. The involvement of the major underwriters BofA Securities and Morgan Stanley signals strong institutional backing.

The 2030 maturity provides a long-term financing window, although the absence of specific terms (interest rate, offer size) limits the full assessment. The stated use for general corporate purposes and debt repayment suggests potential liability management that could optimize their debt profile and potentially reduce interest expenses.

For a regional bank of this size, it is important to maintain diverse sources of funding for sustainable growth. This offering demonstrates proactive capital management and access to public debt markets, although investors should monitor the final terms and impact on the company’s leverage ratio.












COLUMBUS, Ga.–(BUSINESS WIRE)– Synovus Financial Corp . (“Synovus”) (NYSE: SNV) today announced an underwritten public offering of senior notes due 2030. Synovus intends to use the net proceeds from the offering for general corporate purposes, which may include repayment of existing debt.

BofA Securities, Inc. and Morgan Stanley & Co. LLC will act as the active joint book-running managers for the offering, and Synovus Securities, Inc. will act 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 offer is made exclusively by means of a separate prospectus supplement and associated 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 where such 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 the accompanying prospectus relating to the offering may be obtained by contacting BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, Email: [email protected]; or Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2n.d Floor, New York, NY 10014, email: [email protected]. Prospective investors should first read the applicable prospectus supplement and accompanying prospectus, registration statement and other documents filed by Synovus with the Securities and Exchange Commission (“SEC”) in connection with the offering. Investors can obtain these documents for free by visiting the SEC’s website at www.sec.gov.

Synovus Financial Corp.

Synovus Financial Corp. is a financial company based in Columbus, Georgiawith approx 60 billion dollars in assets. Synovus provides commercial and consumer banking and a full suite of specialized products and services, including wealth services, treasury management, mortgage services, premium financing, asset-based lending, structured lending, capital markets and international banking. Synovus has departments in Georgia, Alabama, Florida, South Carolina and Tennessee. Synovus is one Good place to work – certified company. Learn more about Synovus at synovus.com.

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 protection 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,” “anticipates,” “may,” “will,” “assumes,” “predicts,” “could,” “should,” “would”, “intends”, “goals”, “estimates”, “projects”, “plans”, “potential” and other similar words and expressions for the future or otherwise regarding the prospects for Synovus’ future business and financial performance and /or the performance of the financial services industry and the economy in general.These forward-looking statements include, but are not limited to, our expectations regarding the use of net proceeds from the offering; our future operating and financial results; expectations regarding our growth strategy, capital management, balance sheet management and future profitability; credit quality and performance expectations; and the assumptions underlying our expectations. Prospective investors are cautioned that such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties that may cause Synovus to actual results, performance or achievements differ materially 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 anticipated in such forward-looking statements. A number of factors could cause actual results to differ materially from those anticipated in 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 on information currently 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 that are 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 headings “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 they are made. We undertake no obligation to update forward-looking statements as a result of new information, future developments or otherwise, unless otherwise required by law.

Media:

Audria Belton

Media relations

[email protected]

Investor:

Jennifer H. Demba, CFA

Investor Relations

[email protected]

Source: Synovus Financial Corp.








FAQ



What is the maturity date for Synovus (SNV) new senior bonds?

The senior notes offered by Synovus ( SNV ) mature in 2030.


How will Synovus (SNV) use the proceeds from the senior note offering?

Synovus plans to use the net proceeds for general corporate purposes, which may include repayment of existing debt.


Who are the book-running managers for Synovus’ (SNV) senior notes offering?

BofA Securities and Morgan Stanley act as active joint book-running managers, while Synovus Securities acts as passive book-running manager.