The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from PR Newswire

SunTrust Announces Pricing of $1.04 Billion Common Stock Offering

Friday, March 18, 2011

SunTrust Announces Pricing of $1.04 Billion Common Stock Offering18:30 EDT Friday, March 18, 2011ATLANTA, March 18, 2011 /PRNewswire/ -- SunTrust Banks, Inc. (NYSE: STI) announced it has priced a $1.04 billion offering of approximately 35.25 million shares of its common stock at $29.50 per share.   Goldman, Sachs & Co., Morgan Stanley and SunTrust Robinson Humphrey are acting as joint book-running managers of the common stock offering.This announcement does not constitute an offer to sell or the solicitation of any offer to buy the common stock, nor shall there be any offer or sale of the common stock in any jurisdiction in which such offer, solicitation or sale would be unlawful.  The offering will be made only by means of a prospectus and related prospectus supplement. SunTrust has filed with the Securities Exchange Commission (SEC) a registration statement (No. 333-161712), including a prospectus supplement, for the common stock offering.  Investors should read the prospectus in the registration statement and other documents SunTrust has filed with the SEC for more complete information about the Company and this offering prior to investing.  Copies of the registration statement, the prospectus supplement and other documents the Company has filed with the SEC are available for free by visiting EDGAR on the SEC Web site at www.sec.gov.  Alternatively, the prospectus and prospectus supplement may be obtained upon request by contacting SunTrust Investor Relations, 303 Peachtree Street, NE, Atlanta, Georgia 30308, Telephone: 404-588-7711.  A copy of the prospectus and the prospectus supplement may also be obtained from Goldman, Sachs & Co., Morgan Stanley or SunTrust Robinson Humphrey, by contacting:  Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282; by telephone at 1-866-471-2526; or by email at prospectus-ny@ny.email.gs.com;  Morgan Stanley, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department; by telephone at (866) 718-1649; or by email at prospectus@morganstanley.com; or SunTrust Robinson Humphrey, 3333 Peachtree Road NE, Atlanta, GA 30326, Attention: Prospectus Department; by telephone at (404) 926-5744; or by e-mail at prospectus@rhco.com SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients.  As of December 31, 2010, SunTrust had total assets of $172.9 billion and total deposits of $123.0 billion.  The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels.  The Company also serves clients in selected markets nationally.  Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and investment banking services. SunTrust's Internet address is suntrust.com.SOURCE SunTrust Banks, Inc.For further information: Media: Mike McCoy, +1-404-588-7230; Investors: Jennifer Sekel Church, +1-404-230-5392