Davis Polk & Wardwell LLP advised Synovus Financial Corp. on SEC-registered offerings of 293,250,000 shares of common stock, for gross proceeds of $806 million, and 13,800,000 Tangible Equity Units, or "tMEDS," for gross proceeds of $345 million. Each tMEDS is a unit comprised of a prepaid stock purchase contract and a subordinated amortizing note issued by Synovus. J.P. Morgan Securities Inc. was the sole book-running manager for each offering.

Based in Columbus, Georgia, Synovus is a diversified financial services company and a registered bank holding company providing integrated financial services, including commercial and retail banking, financial management, insurance and mortgage services to customers through 30 wholly owned subsidiary banks and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee.

The Davis Polk corporate team included partners William L. Taylor, Joseph A. Hall and Mark M. Mendez, counsel Jeff Ramsay and associates Derek Dostal, Bradley Mitchell, Yasin Keshvargar, Joel Pulliam and Eric D. Wang. Partner Kathleen L. Ferrell and associates M. Ryan LaRosa (of the Menlo Park office) and Aharon Illouz provided tax advice. Partners John L. Douglas (of the Washington DC office) and Margaret E. Tahyar and associate Andrew H. Nash provided bank regulatory advice. Counsel Erin K. Cho (of the Washington DC office) provided ERISA advice. Associate Catherine L. Martin provided Investment Company Act advice. Natalie Chan was the legal assistant on the transaction. Except as noted, all members of the Davis Polk team are based in the New York office.