Fulton Financial Announces Closing of Senior Notes Offering
17 March 2017 - 7:00AM
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170316006189/en/
Fulton Financial CorporationMedia Contact:Laura
J. Wakeley, 717-291-2616orInvestor
Contact:Jason Weber, 717-327-2394
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