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First Horizon Unveils Terms Of Boosted $500 Million Debt Sale

DOW JONES NEWSWIRES First Horizon National Corp. (FHN) unveiled terms of its larger planned sale of $500 million in four-year senior notes, part of a larger capital raising to repay the government rescue funds. The parent of First Tennessee Bank said in a statement the notes will carry an annual interest rate of 5.375%. First Horizon on Monday unveiled plans to sell at least $250 million in stock, along with $400 million in debt, to pay back the $867 million it has outstanding under TARP and redeem another $103 million in debt. Regional banks remain the biggest holders of TARP funds after large banks sprinted to pay back the loans to free themselves from increased regulation. Paybacks are expected to increase next year. First Horizon in October posted an unexpected third-quarter profit as it cut the amount set aside to cover risky loans and revenue declined less than analysts expected. Shares closed Wednesday at $10.65 and were inactive premarket. The stock is down 15% this year. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com;

Stock News for First Horizon (FHN)
DateTimeHeadline
04/24/201516:11:15Statement of Changes in Beneficial Ownership (4)
04/21/201506:42:48SunTrust Boosts First Horizon National Corp Price Target to $16.50...
04/21/201503:15:09First Horizon National Corp Upgraded to Market Perform by FBR...
04/20/201513:31:38RBC Capital Raises First Horizon National Corp Price Target to...
04/17/201507:26:46Current Report Filing (8-k)
04/17/201507:21:33Current Report Filing (8-k)
04/17/201507:20:00First Horizon Posts Adjusted Earnings of $42 Million and Adjusted...
04/10/201517:18:49Commerce Bancshares: Not Competitive In A Competitive Peer Group
04/10/201516:05:00First Horizon National Corp. to Announce Financial Results and...
04/09/201516:20:34Current Report Filing (8-k)
04/09/201516:05:00First Horizon to Settle Key Mortgage Matter
04/03/201514:29:31Statement of Changes in Beneficial Ownership (4)
04/03/201514:26:22Statement of Changes in Beneficial Ownership (4)
04/03/201514:24:11Statement of Changes in Beneficial Ownership (4)
04/03/201514:21:36Statement of Changes in Beneficial Ownership (4)
04/03/201514:19:28Statement of Changes in Beneficial Ownership (4)
04/03/201514:16:37Statement of Changes in Beneficial Ownership (4)
04/03/201514:14:19Statement of Changes in Beneficial Ownership (4)
04/03/201514:11:26Statement of Changes in Beneficial Ownership (4)
04/03/201514:08:43Statement of Changes in Beneficial Ownership (4)

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