Regions’ $750 Million Offering and Cash Tender Offer

May 14, 2020

Cleary Gottlieb represented a syndicate led by J.P. Morgan Securities LLC, Barclays Capital Inc., Goldman Sachs & Co. LLC, RBC Capital Markets LLC, and Regions Securities LLC, as underwriters, in a $750 million SEC-registered offering of 2.25% fixed-rate senior notes due 2025 by Regions Financial Corporation (Regions Financial).

The offering priced on May 13, 2020, and will settle on May 18, 2020.

Cleary is also representing the dealer managers, led by J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., and Regions Securities LLC, in cash tender offers by Regions Bank, a subsidiary of Regions Financial, to purchase any and all of its outstanding 2.75% fixed-rate senior bank notes due 2021 and senior floating-rate bank notes due 2021. The tender offers launched on May 14, 2020.

Regions Financial is a full-service provider of consumer and commercial banking, wealth management, and mortgage products and services. It is a member of the S&P 500 Index and has $133 billion in assets. Regions Financial and Regions Bank operate across the South, Midwest, and Texas.