Exhibit 99.1
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| | FOR IMMEDIATE RELEASE May 26, 2020 | | For more information Trisha Voltz Carlson, EVP, Investor Relations Manager 504.299.5208 ortrisha.carlson@hancockwhitney.com |
Hancock Whitney Announces Pricing of $150 Million of Subordinated Notes
GULFPORT, Miss. (May 26, 2020) — Hancock Whitney Corporation (Nasdaq: HWC) today announced the pricing of an offering of $150 million of its 6.25% Subordinated Notes due 2060 (“the Notes”). The Notes are expected to trade on the Nasdaq Global Select Market under the ticker “HWCPZ” within 30 days of the original issue date of the Notes. The offering is expected to close on June 2, 2020, subject to the satisfaction or waiver of customary closing conditions.
The Notes are intended to qualify as Tier 2 regulatory capital for the company, and the company intends to use the proceeds for general corporate purposes and to supplement existing capital.
Hancock Whitney expects net proceeds of this offering, before expenses, of approximately $172.5 million, if the underwriters exercise their option to purchase additional notes in full.
Morgan Stanley & Co. LLC, BofA Securities, Inc., Piper Sandler & Co., UBS Securities LLC and Wells Fargo Securities, LLC are acting as joint book-runners for the subordinated debt offering.
This announcement does not constitute an offer to buy or a solicitation to sell the Notes. The issuer has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you should read the registration statement, prospectus and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, a copy of the prospectus may be obtained from: Morgan Stanley & Co. LLC toll-free at (866)718-1649, email: prospectus@morganstanley.com; BofA Securities, Inc. toll-free at1-800-294-1322; Piper Sandler & Co. toll-free at866-805-4128, email:fsg-dcm@psc.com; UBS Securities LLC toll-free at1-888-827-7275; or Wells Fargo Securities, LLC toll-free at1-800-645-3751.
About Hancock Whitney
Since the late 1800s, Hancock Whitney has embodied core values of Honor & Integrity, Strength & Stability, Commitment to Service, Teamwork, and Personal Responsibility. Hancock Whitney offices and financial centers in Mississippi, Alabama, Florida, Louisiana, and Texas offer comprehensive financial products and services, including traditional and online banking; commercial and small business banking; private banking; trust and investment services; healthcare banking; certain insurance services; and mortgage services. The company also operates a loan production office in Nashville, Tennessee, as well as trust and asset management offices in New Jersey and New York. BauerFinancial, Inc., the nation’s leading independent bank rating and analysis firm, consistently recommends Hancock Whitney as one of America’s most financially sound banks. More information is available at www.hancockwhitney.com.
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