Huntington Bancshares intends to sell $300 million subordinated notes to repay TARP

By Andrea Heisinger

New York, Dec. 13 - Huntington Bancshares Inc. is planning a $300 million sale of subordinated notes, according to a press release on Monday.

The company is also selling $920 million of common stock with Goldman Sachs & Co. on the books.

The bank holding company plans to use proceeds from both the stock and note sales to repurchase $1.4 billion of series B fixed-rate cumulative perpetual preferred stock issued to the U.S. Department of the Treasury under the TARP Capital Purchase Program.

The issuer is based in Columbus, Ohio.

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