Davis Polk & Wardwell LLP advised J.P. Morgan Securities Inc. as sole book-running manager of a $600 million SEC-registered offering by Synovus Financial Corp. of 150,000,000 shares of common stock. The common stock is listed on the NYSE under the symbol “SNV.” Davis Polk also advised Synovus's financial adviser on a concurrent liability management exercise, which together with the stock offering and related balance sheet optimization activities constitute the Capital Plan announced by Synovus on September 14, 2009.

Synovus Financial Corp. is a diversified financial holding company, based in Columbus, Georgia, that provides integrated financial services, including commercial and retail banking, financial management, insurance, mortgage and leasing services through its 30 wholly owned subsidiary banks and other subsidiaries and divisions in Georgia, Alabama, South Carolina, Florida and Tennessee.

The Davis Polk corporate team included partner Joseph A. Hall and associates Jeff Ramsay and Tae-Hun Kim. Partner Margaret E. Tahyar and associates Cristina Victoria Regojo and Peter E. Devlin provided financial institutions regulatory advice. Partner John M. Brandow provided liability management advice. Partner Rachel D. Kleinberg of the Menlo Park office and associate Adam B. Perry provided tax advice. Partner Gail A. Flesher provided environmental advice. Amarilys Katy Barbosa was the legal assistant for the transaction. Except as noted above, all members of the Davis Polk team are based in the New York office.