New Issue: Huntington Bancshares sells $750 million 4.443% six-year fixed-to-floaters

By Wendy Van Sickle

Columbus, Ohio, Aug. 1 – Huntington Bancshares Inc. priced $750 million of 4.443% fixed-to-floating rate senior notes due Aug. 4, 2028 at par on Monday, according to an FWP filing with the Securities and Exchange Commission.

The notes priced at 177 basis points over Treasuries.

The coupon is fixed at 4.443% prior to Aug. 4, 2027 and then will float at SOFR plus 197 bps.

The notes feature a make-whole call followed by a par call.

The bookrunners are Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and Huntington Securities Inc.

Proceeds will be used for general corporate purposes.

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

Issuer:	Huntington Bancshares Inc.
Amount:	$750 million
Issue:	Fixed-to-floating rate senior notes
Maturity:	Aug. 4, 2028
Bookrunners:	Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and Huntington Securities Inc.
Co-managers:	Academy Securities, Inc., AmeriVet Securities, Inc., Robert W. Baird & Co. Inc. and Jefferies LLC
Trustee:	Deutsche Bank Trust Co. Americas
Counsel to issuer:	Wachtell, Lipton, Rosen & Katz and Venable LLP
Counsel to underwriters:	Shearman & Sterling LLP
Coupon:	4.443% prior to Aug. 4, 2027, then at SOFR plus 197 bps
Price:	Par
Spread:	177 bps over Treasuries
Call:	On or after Jan. 31, 2023 at greater or Treasuries plus 27 bps and par; at par starting July 4, 2028
Trade date:	Aug. 1
Settlement date:	Aug. 4
Distribution:	SEC registered
Cusip:	446150BB9

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