8-K Alert: Synovus Accepts $29M Note Exchange

Item 3.02 Unregistered Sale of Equity Securities

On November 3, 2009, Synovus accepted for exchange $29,820,000 in aggregate principal amount of its outstanding 4.875% Subordinated Notes Due 2013 (the "Tendered Notes") pursuant to its offer to exchange up to 50 million newly issued shares of its common stock for any and all of its outstanding 4.875% Subordinated Notes Due 2013 (the "Exchange Offer"). Pursuant the terms of the Exchange Offer, Synovus issued 9,444,161 shares of its common stock (the "Exchanged Shares") as consideration for the Tendered Notes on November 4, 2009, the settlement date of the Exchange Offer. The Exchanged Shares were issued in a transaction that was not registered under the Securities Act of 1933, as amended (the "Act"), in reliance upon an exemption from registration provided under Section 3(a)(9) of the Act.