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.
Copyright 2019 The Business Journal, Youngstown, Ohio.
Published by The Business Journal, Youngstown, Ohio.
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