Huntington Bancshares Announced the Redemption of $80 Million of Trust Preferred Securities
COLUMBUS, Ohio--(BUSINESS WIRE)-- Huntington Bancshares Incorporated (NASDAQ: HBAN; www.huntington.com) announced it has submitted redemption notices to the trustee for each trust listed below, which will result in the redemption of all of the trust preferred securities identified below on the date specified. The trust preferred securities will be redeemed at the redemption price (as a percentage of the liquidation amount) plus accrued and unpaid distributions to the redemption date.
These redemptions are consistent with the capital plan the Company submitted to the Federal Reserve, will be funded from the Company’s existing cash and are expected to result in a modest gain.
| CUSIP |
Title and Issuer |
Outstanding as of |
Coupon |
Maturity |
Redemption |
Redemption |
||||||||||||||||||
| 05539RAC3 | BFOH Capital Trust I | $20,000,000 | 9.875% | 10/15/2029 | 103.950% | 5/24/2012 | ||||||||||||||||||
| 83081JAC0 | Sky Financial Capital Trust I | $60,000,000 | 9.34% | 5/1/2030 | 103.736% | 5/24/2012 | ||||||||||||||||||
About Huntington
Huntington Bancshares Incorporated is a $56 billion regional bank holding company headquartered in Columbus, Ohio. The Huntington National Bank, founded in 1866, provides full-service commercial, small business, and consumer banking services; mortgage banking services; treasury management and foreign exchange services; equipment leasing; wealth and investment management services; trust services; brokerage services; customized insurance brokerage and service programs; and other financial products and services. The principal markets for these services are Huntington’s six-state banking franchise: Ohio, Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. The primary distribution channels include a banking network of over 660 traditional branches and convenience branches located in grocery stores and retirement centers, and through an array of alternative distribution channels including internet and mobile banking, telephone banking, and over 1,300 ATMs. Through automotive dealership relationships within its six-state banking franchise area and selected other Midwest and New England states, Huntington also provides commercial banking services to the automotive dealers and retail automobile financing for dealer customers.
Huntington Bancshares Incorporated
Investors
Todd Beekman,
614-480-3878
Todd.Beekman@huntington.com
or
Media
Maureen
Brown, 614-480-5512
Maureen.Brown@Huntington.com
Source: Huntington Bancshares Incorporated
Released April 25, 2012