Huntington gets $369.83 million early tenders for four notes series

By Jennifer Chiou

New York, Nov. 5 - Huntington Bancshares Inc. announced that Huntington National Bank has received early tenders for $369,828,000 total of four notes series.

On Oct. 22, the company began a cash tender offer for up to $400 million of the following series of notes:

• 5.375% subordinated bank notes due Feb. 28, 2019;

• 6.6% subordinated bank notes due June 15, 2018;

• 5.5% subordinated bank notes due Feb. 15, 2016; and

• 4.9% subordinated bank notes due Jan. 15, 2014.

The notes are listed in order of priority acceptance level, and the bank said it will accept up to $150 million of the 6.6% notes.

As of 5 p.m. ET on Nov. 4, the company had received tenders for $74,284,000 of the 5.375% notes, $74,019,000 of the 6.6% notes, $146,952,000 of the 5.5% notes and $74,573,000 of the 4.9% notes.

For each $1,000 principal amount, Huntington said it will pay $825 for the 5.375% notes, $915 for the 6.6% notes, $905 for the 5.5% notes and $930 for the 4.9% notes. The payouts include a $30 early payment for those who tendered prior to 5 p.m. ET on Nov. 4.

The offer will end at 11:59 p.m. ET on Nov. 19.

The dealer manager is Sandler O'Neill & Partners, LP (866 805-4128 or call collect 212 466-7807). The information agent is Global Bondholder Services Corp. (866 387-1500 or call collect 212 430-3774).

The issuer is a Columbus, Ohio-based multi-state diversified financial holding company.

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