Financial Services

FNB to Issue $120M Subordinated Notes

PITTSBURGH – F.N.B. Corp.,  parent of First National Bank of Pennsylvania, previously announced it would issue subordinated notes for general corporate purposes and today provided the amount to be financed, rate and maturity: $120 million at 4.950% for 10 years.

F.N.B. expects the offering to close Thursday.

Interest will be payable semi-annually in arrears commencing on Aug. 14, 2019, to, but excluding Feb. 14, 2024, and, thereafter, will be payable quarterly in arrears.

F.N.B. filed a shelf registration statement and a preliminary prospectus supplement relating to this offering with the U.S. Securities and Exchange Commission.

Morgan Stanley & Co. LLC and Sandler O’Neill & Partners LP are serving as joint book-running managers.

Published by The Business Journal, Youngstown, Ohio.