Huntington to issue shares for some 8.5% convertible preferreds

By Susanna Moon

Chicago, March 24 - Huntington Bancshares Inc. agreed to exchange 9,051,000 common shares for 43,100 shares of its 8.5% series A non-cumulative perpetual convertible preferred stock held by some institutional shareholders, according to an 8-K filing with the Securities and Exchange Commission.

The exchange will settle by March 25.

Huntington entered into agreements with certain related institutional shareholders on March 23.

The issuer is a Columbus, Ohio-based multi-state diversified financial holding company.

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