Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Thu, December 2, 6:19 PM
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Slide #514. First Horizon National Corporation — Preferred Stock Offering
First Horizon National Corporation (NYSE:FHN)
Date of Pricing:
Preferred Stock Offering Details:
First Horizon National Corporation (NYSE:FHN) announced today a public offering of depositary shares, each representing 1/4,000th interest in a share of its Non-Cumulative Perpetual Preferred Stock, Series A. First Horizon intends to grant the underwriters a 30-day option to purchase additional depositary shares solely to cover over-allotments, if any. First Horizon intends to use the net proceeds of this offering for general corporate purposes.--updated 1/25/13 - First Horizon National Corporation (NYSE:FHN) announced today the pricing of an underwritten public offering of $100 million aggregate liquidation preference amount of depositary shares, each representing 1/4,000th interest in a share of its Non-Cumulative Perpetual Preferred Stock, Series A, at a fixed annual dividend rate of 6.20 percent. First Horizon intends to use the net proceeds of this offering for general corporate purposes.
First Horizon is a bank holding company. Co. provides financial services primarily through its principal subsidiary, First Horizon Bank. Co.'s business segments include: regional banking, which provides financial products and services, including lending and deposit taking, to consumer and commercial clients primarily in the southern United States and other selected markets, as well as investment, wealth management, financial planning, trust and asset management services for consumer clients; and specialty banking, which includes asset-based lending, mortgage warehouse lending, commercial real estate, franchise finance, correspondent banking, equipment finance, mortgage, and title insurance.
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Strong Buy (3.50 out of 4)
(ranked higher than approx. 52% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com