FNB Fills in Blanks on Subordinated Notes
PITTSBURGH – F.N.B. Corp., which announced Monday it would issue subordinated notes for general corporate purposes, Wednesday provided the amount to be financed, rate and maturity: $100 million at 4.875% for 10 years.
F.N.B. expects the offering to close Friday.
Interest will be paid April 15 and Oct. 15 of each year until the notes mature, the first interest payment scheduled for April 15, 2016, and the notes are not callable.
F.N.B., whose largest subsidiary is First National Bank of Pennsylvania, filed a shelf registration with the U.S. Securities and Exchange Commission Monday, leaving blank the amount to be financed and interest rate it would pay.
RBC Capital Markets LLC and Sandler O’Neil & Partners LP are serving as joint book-running managers.
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