Synovus Announces Pricing of Subordinated Notes Offering
Synovus Financial Corp. (SNV)
Last synovus financial corp. earnings: 4/24 06:30 am
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Source: Business Wire
COLUMBUS, Ga.--(BUSINESS WIRE)-- Synovus Financial Corp. (NYSE: SNV) today announced the pricing of its underwritten public offering of $300 million of 5.90% fixed-to-fixed rate subordinated notes due 2029 (the “Notes”). The Notes have an initial fixed interest rate of 5.90%, payable semi-annually, and a ten-year term. Commencing February 7, 2024, the interest rate on the Notes resets to an annual interest rate equal to 3.379% above the then-current 5-year semi-annual mid-swap rate. The net proceeds to Synovus from the offering are expected to be approximately $297.0 million. Synovus intends to use the net proceeds from this offering for general corporate purposes, including share repurchases. Synovus expects to close the transaction, subject to customary conditions, on February 7, 2019. J.P. Morgan Securities LLC is acting as sole active bookrunner, Morgan Stanley & Co. LLC is actin
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- Synovus Financial Corp. (NYSE: SNV) had its "equal weight" rating re-affirmed by analysts at Morgan Stanley. They now have a $37.00 price target on the stock.MarketBeat
- Synovus Financial Corp. (NYSE: SNV) had its price target lowered by analysts at Truist Financial Co. from $45.00 to $39.00. They now have a "buy" rating on the stock.MarketBeat
- Synovus Financial Corp. (NYSE: SNV) had its price target lowered by analysts at Royal Bank of Canada from $44.00 to $41.00. They now have an "outperform" rating on the stock.MarketBeat
- Synovus Financial Corp. (NYSE: SNV) had its price target lowered by analysts at Piper Sandler from $46.00 to $42.00. They now have an "overweight" rating on the stock.MarketBeat
SNV
Earnings
- 4/17/24 - Miss
SNV
Sec Filings
- 4/18/24 - Form 8-K
- 4/17/24 - Form 8-K
- 3/12/24 - Form ARS
- SNV's page on the SEC website