BLAIRSVILLE, GA – August 12, 2013 – United Community Banks, Inc. (NASDAQ: UCBI) (“United”), the holding company of United Community Bank, today announced it completed its offering of $34,584,000 aggregate principal amount of 6.00% Senior Notes due August 13, 2018 (the “Notes”). Interest on the Notes is payable semi-annually on February 13 and August 13 with the first such payment on February 13, 2014. United may elect to redeem the Notes, in whole or in part, on any interest payment date on or after August 13, 2015 at a redemption price equal to 100% of the principal amount plus any accrued and unpaid interest. United intends to use the net cash proceeds from this offering for general corporate purposes, which may include the repurchase or replacement of certain of United’s debt instruments. The interest rate was determined through an online modified Dutch auction process administered by Zions Direct, Inc. whereby Macquarie Capital acted as Program Arranger and Joint Book-Running Manager and Goldman, Sachs & Co. acted as Joint Book-Running Manager for the offering. About United Community Banks, Inc. Headquartered in Blairsville, United Community Banks, Inc. is the third-largest bank holding company in Georgia. United has assets of $7.2 billion and operates 103 banking offices throughout north Georgia, the Atlanta region, coastal Georgia, western North Carolina and western South Carolina. United specializes in providing personalized community banking services to individuals and small to mid-size businesses and also offers the convenience of 24-hour access through a network of ATMs, telephone and on-line banking. United’s common stock is listed on the Nasdaq Global Select Market under the symbol UCBI. Additional information may be found at United’s website at www.ucbi.com. |
