Synovus Financial Corp.'s capital-raising efforts brought in $1 billion, exceeding its original plan by 67%.

The $32 billion-asset Columbus, Ga., company said late Wednesday it sold 255 million shares of common stock at $2.75 a share and 12 million tangible equity units at $25 each. The tangible equity units have quarterly cash payments and allow buyers to eventually exchange the securities for a preset range of Synovus common stock, with a settlement date of May 15, 2013.

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