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Huntington Re-Introduces Mezzanine Financing.

COLUMBUS, Ohio, Aug. 9 /PRNewswire-FirstCall/ -- Huntington Bancshares Incorporated (Nasdaq: HBAN) (www.huntington.com) has re-launched its mezzanine finance business, continuing the company's focus on providing non-traditional financial solutions for corporate and institutional customers. Huntington's mezzanine finance program provides funding to established, medium-sized companies.

"Mezzanine financing is an important solution for a number of our clients," said Steve Steinour, Huntington CEO. "Re-introducing it is part of our continued commitment to making financing available to growing businesses that are also creating new jobs."

This product provides financing that a client can't get through traditional bank means, bridging the gap between what the borrower needs and what the bank is willing to lend, based on standard collateral advances. Its name comes from its position on the middle floor in a company's capital structure, between the "ground floor" of equity and the "first floor" of debt.

Typically, a company seeks mezzanine financing for rapid internal expansion, external acquisition opportunities, debt restructuring, succession planning, and/or management or leveraged buyouts. Mezzanine loans have terms of three to five years, and are subordinate to senior financing.

"Our typical customer is a company seeking a loan of $1 to $10 million," said Randy Stickler, Huntington senior executive vice president. "This gives Huntington customers an advantage, as most of our competitors focus on larger transactions."

Customers who get mezzanine financing may also want senior financing and treasury management services through Huntington. "When a mezzanine transaction is combined with senior financing, the customer gets significant flexibility in terms of structure, negotiation and reporting," Stickler explained.

About Huntington

Huntington Bancshares Incorporated is a $52 billion regional bank holding company headquartered in Columbus, Ohio. Through its affiliated companies, Huntington has been providing a full range of financial services including checking, loans, savings, insurance and investment services to customers for 144 years. Huntington has more than 600 banking offices. Huntington also offers retail and commercial financial services online at huntington.com; through its telephone bank; and through its network of over 1,300 ATMs.

The logo mark and Huntington[sup.] are federally registered service marks of Huntington Bancshares Incorporated.

SOURCE Huntington Bancshares Incorporated
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Publication:PR Newswire
Date:Aug 9, 2010
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