LANCASTER, Pa.--(BUSINESS WIRE)--
Fulton Financial Corporation (NASDAQ:FULT) today announced the pricing
of its public offering of $125 million aggregate principal amount of its
3.60% Senior Notes due 2022 (the “Senior Notes”). The price to the
purchasers was 99.615%% of the principal amount of the Senior Notes
representing a yield-to-maturity of 3.685%. The Senior Notes will not be
redeemable prior to their maturity. The offering is expected to close on
March 16, 2017, subject to the satisfaction of customary closing
conditions.
Keefe, Bruyette & Woods, A Stifel Company is acting as the
sole book-running manager for the offering.
Fulton Financial estimates that the net proceeds of the offering will be
approximately $122.5 million, after deducting underwriting discounts,
commission and estimated transaction expenses payable by the company.
Fulton Financial intends to use the net proceeds of this 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.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities, nor shall there be any
sale of the securities 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
securities being 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.
The offering is being 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 preliminary 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 and will file a final prospectus supplement
relating to the offering. Prospective 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 this 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, when available, 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.
Forward-Looking Statements
Statements made in this press release regarding the proposed offering of
the Senior Notes and the repayment of the 5.75% Subordinated Notes are
forward-looking statements. Fulton Financial may be unable to close the
offering on the anticipated date, or at all, and may be unable to repay
the 5.75% Subordinated Notes. Risks and other factors that could cause
the offering not to be completed, or to be completed with different
terms, include market conditions and volatility in the market price of
Fulton Financial’s publicly traded securities, as well as other risks
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/20170313006476/en/
Fulton Financial Corporation
Media:
Laura J.
Wakeley, 717-291-2616
or
Investors:
Jason
Weber, 717-327-2394
Source: Fulton Financial Corporation