PITTSBURGH, Dec. 4, 2024
/PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) ("FNB" or the
"Company") today announced the pricing of its offering of
$500 million aggregate principal
amount of its fixed rate / floating rate senior notes due 2030 (the
"Notes"). The Notes will bear interest at 5.722% per annum, payable
semi-annually in arrears on June 11
and December 11, of each year,
commencing on June 11, 2025, and
ending on December 11, 2029. Starting
on December 11, 2029, the Notes will
bear interest at a floating rate per annum equal to Compounded SOFR
plus 1.93%, payable quarterly in arrears on March 11, 2030, June 11,
2030, September 11, 2030 and
on the maturity date. The offering is expected to close on
December 11, 2024, subject to
customary closing conditions.
The Company expects to use the net proceeds from the offering
for general corporate purposes, which may include investments at
the holding company level, capital to support the growth of the
Company's banking subsidiary and refinancing of outstanding
indebtedness.
Morgan Stanley & Co. LLC, BofA Securities, Inc., and WauBank
Securities LLC are serving as joint book-running managers, and
Bancroft Capital, LLC, BMO Capital Markets Corp., Goldman Sachs
& Co. LLC, and Piper Sandler
& Co. are serving as co-managers.
FNB has filed a shelf registration statement (including a base
prospectus) and a prospectus supplement with the U.S. Securities
and Exchange Commission (the "SEC") for the offering to which this
communication relates. Before investing, prospective investors
should read the registration statement (including the base
prospectus), the prospectus supplement and other documents FNB has
filed and will file with the SEC that are incorporated by reference
into the registration statement and the prospectus supplement for
more complete information about FNB and the offering, including the
risks associated with the securities and the offering.
This announcement is for informational purposes only and shall
not constitute an offer to sell or the solicitation of an offer to
buy any securities, nor shall there be any offer or sale of any
securities, in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. The securities are neither insured nor approved by
the Federal Deposit Insurance Corporation. The offering will be
made only by means of a prospectus supplement and accompanying base
prospectus, copies of which may be obtained free of charge from the
SEC's website at: www.sec.gov. Alternatively, any underwriter or
any dealer participating in the offering will arrange to send you
the prospectus supplement and accompanying base prospectus if you
request it by contacting: Morgan Stanley & Co. LLC Attn:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, email:
prospectus@morganstanley.com, or BofA Securities, Inc.,
NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus
Department, Email: dg.prospectus_requests@bofa.com.
About F.N.B. Corporation
F.N.B. Corporation (NYSE:
FNB), headquartered in Pittsburgh,
Pennsylvania, is a diversified financial services company
operating in seven states and the District of Columbia. FNB's market coverage
spans several major metropolitan areas including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High
Point) in North Carolina;
and Charleston, South Carolina.
The Company has total assets of $48
billion and approximately 350 banking offices
throughout Pennsylvania,
Ohio, Maryland, West
Virginia, North Carolina,
South Carolina, Washington, D.C. and Virginia.
FNB provides a full range of commercial banking, consumer
banking and wealth management solutions through its subsidiary
network which is led by its largest affiliate, First National Bank
of Pennsylvania, founded in 1864.
Commercial banking solutions include corporate banking, small
business banking, investment real estate financing, government
banking, business credit, capital markets and lease financing. The
consumer banking segment provides a full line of consumer banking
products and services, including deposit products, mortgage
lending, consumer lending and a complete suite of mobile and online
banking services. FNB's wealth management services include asset
management, private banking and insurance.
The common stock of F.N.B. Corporation trades on the New York
Stock Exchange under the symbol "FNB" and is included in Standard
& Poor's MidCap 400 Index with the Global Industry
Classification Standard (GICS) Regional Banks Sub-Industry Index.
Customers, shareholders and investors can learn more about this
regional financial institution by visiting the F.N.B. Corporation
website at www.fnbcorporation.com. Information on FNB's website
does not constitute part of, and is not incorporated by reference
in, the prospectus or prospectus supplement.
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SOURCE F.N.B. Corporation