MEMPHIS, Tenn., May 2, 2008 (PRIME NEWSWIRE) -- First Horizon National Corp. (NYSE:FHN) has completed the previously announced public offering of 60 million shares of its common stock at $10.00 per share. Goldman, Sachs & Co. and UBS Investment Bank, joint book-running managers for the offering, took advantage of the option to purchase all 9 million over-allotment shares. The resulting net proceeds of more than $660 million will be used by First Horizon for general corporate purposes.
"We are pleased with the market's acceptance of the offering and the pricing, which we believe is a positive response to our strategy to refocus on our core regional banking and capital markets businesses," said First Horizon CEO Jerry Baker.
FTN Midwest Securities was senior co-manager for the offering, which was made under First Horizon's existing shelf registration statement filed with the Securities and Exchange Commission.
About First Horizon
The 10,000 employees of First Horizon National Corp. (NYSE:FHN) provide financial services to individuals and business customers through hundreds of offices located in more than 40 states. The corporation's three major brands -- First Tennessee, FTN Financial and First Horizon -- provide customers with a broad range of products and services including:
* Retail/commercial banking, with the largest market share in Tennessee and one of the highest customer retention rates of any bank in the country * Capital markets, one of the nation's top underwriters of U.S. government agency securities * Mortgage banking, one of the nation's top mortgage originators and recipient of consecutive awards for servicing excellence from Fannie Mae and Freddie Mac
FHN has been recognized as one of the nation's best employers by AARP and Working Mother magazines. More information can be found at www.fhnc.com.
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