Synovus Financial Corp. (NYSE: SNV) today announced concurrent underwritten public offerings of $400 million of shares of common stock and $200 million of tangible equity units (or tMEDS), with a stated amount per unit of $25.  Each tMEDS will be composed of a prepaid stock purchase contract in respect of Synovus’ common stock and a junior subordinated amortizing note. The underwriters of the common stock offering will have a 30-day option to purchase up to an additional 15% of the number of shares offered.  The underwriters of the tMEDS offering will have a 13-day option to purchase up to an additional 15% of the amount of tMEDS offered.  Proceeds from the offerings will be used for working capital and general corporate purposes.

J.P. Morgan Securities Inc. will serve as sole book-running manager of each of the offerings.