News
August 17, 2012
Contact:
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Investors Todd Beekman Todd.Beekman@huntington.com |
Media Maureen Brown Maureen.Brown@Huntington.com |
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(614) 480-3878
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(614) 480-5512 |
HUNTINGTON BANCSHARES ANNOUNCED THE REDEMPTION OF $36 MILLION OF TRUST PREFERRED SECURITIES
COLUMBUS, Ohio – 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 will be funded from the Company’s existing cash.
Title and Issuer of Securities |
Outstanding as of June 30, 2012 |
Coupon |
Maturity Date |
Redemption Price |
Redemption Date |
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Sky Financial Capital Trust II |
$30,000,000 |
3.41%(1) |
10/8/2033 |
100% |
10/8/2012 |
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Prospect Trust I
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$ | 6,000,000 | 3.71%(2) | 4/7/2033 | 100 | % | 10/7/2012 | |||||||
| (1) | Variable effective rate at June 30, 2012, based on three month LIBOR + 2.95 |
| (2) | Variable effective rate at June 30, 2012, based on three month LIBOR + 3.25 |
About Huntington
Huntington Bancshares Incorporated is a $57 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 680 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 1,350 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.
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