Huntington Bancshares offers $500 million 15-year subordinated notes; talk in 140 bps-145 bps area

By Cristal Cody

Chicago, Aug. 9 – Huntington Bancshares Inc. is planning to sell $500 million of 15-year subordinated notes with talk of a spread in the Treasuries plus 140 basis points to 145 bps area, based on a report from a market source.

Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and Huntington are working as bookrunners for the Rule 144A and Regulation S offering.

Proceeds, according to a press release, will be used for general corporate purposes, including supporting asset growth of its subsidiaries.

After the offering, the company will be starting an exchange offer for several series of notes.

Huntington is a Columbus, Ohio-based bank holding company.

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