New Issue: Huntington Bancshares sells $1.25 billion 5.709% 11-year fixed-to-floating notes

By Wendy Van Sickle

Columbus, Ohio, Jan. 26 – Huntington Bancshares Inc. priced $1.25 billion of 5.709% fixed-to-floating rate senior notes due Feb. 2, 2035 at par on Friday, according to an FWP filing with the Securities and Exchange Commission.

The notes priced at 155 basis points over Treasuries.

The coupon is fixed at 5.709% prior to Feb. 2, 2034 and then will float at SOFR plus 187 bps.

The notes feature a make-whole call followed by a par call.

The bookrunners are BofA Securities, Inc., Goldman Sachs & Co. LLC, Huntington Securities, Inc. and RBC Capital Markets, LLC.

Proceeds will be used for general corporate purposes.

Huntington Bancshares is a Columbus, Ohio-based diversified regional bank holding company.

Issuer:	Huntington Bancshares Inc.
Amount:	$1.25 billion
Issue:	Fixed-to-floating rate senior notes
Maturity:	Feb. 2, 2035
Bookrunners:	BofA Securities, Inc., Goldman Sachs & Co. LLC, Huntington Securities, Inc. and RBC Capital Markets, LLC
Co-managers:	Jefferies LLC and Keefe, Bruyette & Woods, Inc.
Trustee:	Bank of New York Mellon Trust Co., NA
Counsel to issuer:	Wachtell, Lipton, Rosen & Katz and Venable LLP
Counsel to underwriters:	Gibson, Dunn & Crutcher LLP
Coupon:	5.709% prior to Feb. 2, 2034, then at SOFR plus 187 bps
Price:	Par
Yield:	5.709%
Spread:	155 bps over Treasuries
Call:	On or after Nov. 2, 2034 at greater or Treasuries plus 25 bps and par; at par starting
Trade date:	Jan. 26
Settlement date:	Feb. 2
Distribution:	SEC registered
Cusip:	446150BD5

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