Synovus Bank issues $500M subordinated notes at 5.957% due 2036

SYNOVUS FINANCIAL CORP

Issued $500M aggregate principal of 5.957% Fixed-to-Fixed Rate Subordinated Bank Notes due 2036.
Interest fixed at 5.957% through Jan 15, 2031, then resets to 5-year UST + 2.300% until Jan 15, 2036.
Net proceeds of approximately $496M after commissions and expenses; used for general corporate purposes.
Notes are subordinated obligations of Synovus Bank, not guaranteed by Synovus Financial Corp.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SYNOVUS FINANCIAL CORP incurred senior notes of $500 million with The Bank of New York Mellon Trust Company, N.A. at 5.957% per annum maturing January 15, 2036.

Instrument: senior notes
Principal: $500 million
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Rate: 5.957% per annum
Maturity: January 15, 2036
Event: incurrence

Exact text from the filing

issued $500 million aggregate principal amount of its 5.957% Fixed-to-Fixed Rate Subordinated Bank Notes due 2036

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Source: SEC EDGAR

accession 0000018349-25-000137

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