LANCASTER, Pa.--(BUSINESS WIRE)--
Fulton Financial Corporation (“Fulton Financial”) (NASDAQ: FULT) today
announced the closing of its previously announced public offering (the
“Offering”) of $125 million aggregate principal amount of its 3.60%
senior notes due 2022 (the “Notes”). The Notes bear an interest rate of
3.60 percent per annum and were issued to the public at 99.615 percent
of their face value.
Fulton Financial estimates that the net proceeds of the Offering will be
approximately $123.0 million, after deducting underwriting discounts,
commission and estimated transaction expenses payable by the company.
Fulton Financial intends to use the net proceeds from the Offering,
along with cash on hand, for the repayment in full of its 5.75%
Subordinated Notes (the “5.75% Subordinated Notes”), which become due
and payable on May 1, 2017, with any remaining proceeds being used for
general corporate purposes.
Keefe, Bruyette & Woods, A Stifel Company acted as the sole
book-running manager for the Offering.
The Offering was made only by means of a prospectus supplement and
accompanying base prospectus. Fulton Financial has filed a registration
statement (File No. 333-197730) and a final prospectus supplement to the
prospectus contained in the registration statement with the U.S.
Securities and Exchange Commission (“SEC”) for the Offering to which
this communication relates. Investors should read the prospectus
supplement and base prospectus in that registration statement and other
documents Fulton Financial has filed or will file with the SEC for more
complete information about Fulton Financial and the Offering. You may
obtain these documents for free by visiting EDGAR on the SEC’s website
at http://www.sec.gov.
Printed copies of the final prospectus supplement and the accompanying
base prospectus may be obtained by contacting Keefe, Bruyette & Woods, A
Stifel Company, Attention: Debt Capital Markets, 787 Seventh Avenue,
4th Floor, New York, NY 10019, telephone (800) 966-1559.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the Notes, nor shall there be any sale
of the Notes in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. The
Notes offered have not been approved or disapproved by any regulatory
authority, nor has any such authority passed upon the accuracy or
adequacy of the prospectus supplement or the shelf registration
statement or prospectus relating thereto.
About Fulton Financial
Fulton Financial is a Lancaster, Pennsylvania-based financial holding
company that has banking offices in Pennsylvania, Maryland, Delaware,
New Jersey and Virginia through the following subsidiaries,
headquartered as indicated: Fulton Bank, N.A., Lancaster, PA; Swineford
National Bank, Middleburg, PA; Lafayette Ambassador Bank, Easton, PA;
FNB Bank, N.A., Danville, PA; Fulton Bank of New Jersey, Mt. Laurel, NJ;
and The Columbia Bank, Columbia, MD.
Fulton Financial’s investment management and trust services are offered
at all of its subsidiary banks through Fulton Financial Advisors, a
division of Fulton Bank, N.A. Residential mortgage lending is offered by
all of Fulton Financial’s subsidiary banks under the Fulton Mortgage
Company brand.
Forward-Looking Statements
Certain statements made in this press release, including those regarding
the anticipated use of the proceeds of the Offering, may be
forward-looking statements. Fulton Financial may be unable to repay in
full the 5.75% Subordinated Notes, or at all. Risks and other factors
that could cause actual results to differ materially from those in the
forward-looking statements are listed from time to time in Fulton
Financial’s filings with the SEC, including but not limited to, Fulton
Financial’s annual and quarterly reports. Fulton Financial has no
obligation to revise or update any forward-looking statements, other
than as imposed by law, as a result of future events or new information.
Readers are cautioned not to place undue reliance on such
forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170316006189/en/
Fulton Financial Corporation
Media Contact:
Laura
J. Wakeley, 717-291-2616
or
Investor Contact:
Jason
Weber, 717-327-2394
Source: Fulton Financial Corporation