MEMPHIS, Tenn., Nov. 14, 2014 (GLOBE NEWSWIRE) -- First Tennessee Bank National Association, a subsidiary of First Horizon National Corporation (NYSE:FHN), announced today the pricing of an offering of $400 million aggregate principal amount of Senior Notes due 2019 at a fixed annual interest rate of 2.95%. First Tennessee intends to use the net proceeds of the offering to repay $304 million of notes maturing in January 2015, and for a dividend to First Horizon.
First Tennessee expects to close the transaction on or about November 21, 2014, subject to the satisfaction of customary closing conditions.
The Senior Notes will not be registered under federal or state securities laws, and may not be sold in the United States absent registration, except pursuant to an exemption from the registration requirements of federal and state securities laws. The offering will be made only to institutional accredited investors in $250,000 minimum denominations under an exemption from registration.
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall there be any offer or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
About First Horizon
The 4,200 employees of First Horizon National Corp. (NYSE:FHN) provide financial services through more than 170 First Tennessee Bank locations in and around Tennessee and 27 FTN Financial offices in the U.S. and abroad. The company was founded during the Civil War in 1864 and has the 14th oldest national bank charter in the country. First Tennessee has the leading combined market share in the counties where it does business, and FTN Financial is a capital markets industry leader in fixed income sales, trading and strategies for institutional customers in the U.S. and abroad. First Horizon has been recognized as one of the nation's best employers by Working Mother and American Banker magazines.
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