HERMITAGE, Pa., Oct. 29, 2013 /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB) (the "Company" or "F.N.B.") today announced the pricing of a public offering of 4.0 million depositary shares, each representing a 1/40th interest in a share of its 7.25% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E at a public offering price of $25.00 per depositary share. The offering is expected to close on November 1, 2013, subject to customary closing conditions. The Company has also granted the underwriters a 30-day option to purchase an additional 600,000 of depositary shares on the same terms and conditions.
The Company intends to use the net proceeds from the offering of approximately $96.7 million to proactively position F.N.B. for Basel III implementation, including the redemption of certain trust preferred securities, and to support future growth opportunities.
Keefe, Bruyette & Woods, A Stifel Company and RBC Capital Markets, LLC are serving as joint book-running managers for the offering and J.P. Morgan Securities LLC is serving as joint lead manager.F.N.B. has filed a shelf registration statement (including a prospectus) and a preliminary prospectus supplement, and will file a final prospectus supplement, relating to this offering with the Securities and Exchange Commission (the "SEC"). Prospective investors should read the registration statement (including the base prospectus), the preliminary prospectus supplement, the final prospectus supplement (when filed) and other documents F.N.B. has filed and will file with the SEC that are incorporated by reference into the registration statement and each prospectus for more complete information about F.N.B. and the offering, including the risks associated with the securities and the offering. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful. The offering will be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from the investor relations section of F.N.B.'s Web site at: www.fnbcorporation.com or from the SEC's Web site at: www.sec.gov. Alternatively, you may obtain a copy of the prospectus supplement and accompanying prospectus for the offering by contacting:
- Keefe, Bruyette & Woods, Inc., Attention: Capital Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019, telephone (800) 966-1559; and
- RBC Capital Markets, LLC, 1-866-375-6829 or via e-mail at RBCNYFixedIncomeProspectus@rbccm.com