FNB Corp. to Issue Subordinated Notes
PITTSBURGH – F.N.B. Corp., parent of First National Bank of Pennsylvania, announced Monday that it will issue subordinated notes that mature in 2025 for general corporate purposes.
In its shelf filing Monday with the U.S. Securities and Exchange Commission, F.N.B. left blank the total in notes it would issue as well as the rate, other than to say that it would be a fixed annual rate. Interest will be paid April 15 and Oct. 15 of each year until the notes mature, the first interest payments to be made April 15, 2016.
The notes will be unsecured obligations of the corporation, not any of its subsidiaries, and are not callable, F.N.B. said.
RBC Capital Markets LLC and Sandler, O’Neill & Partners L.P. are serving as joint book-running managers, F.N.B. said.
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