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Huntington Bancshares to buy $338.9M in notesNovember 20, 2009 5:57 PM ET
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COLUMBUS, Ohio (AP) - Huntington Bancshares Inc., parent company of Huntington National Bank, said Friday that it will pay $338.9 million for subordinated bank notes tendered for an offer that expired Thursday. Huntington, based in Columbus, Ohio, had offered to buy notes with a principal amount up to $400 million. The expected settlement date for the offer is Monday. After settlement, another $429.2 million in subordinated bank notes will remain outstanding. The sum includes $370.8 million in notes tendered plus accrued and unpaid interest. Sandler O'Neill & Partners LP is the dealer manager for the offer. Huntington shares fell 5 cents to $3.78 on Friday. Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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