August 10, 2010 (FinancialWire) — Huntington Bancshares Inc. (NASDAQ: HBAN) said it has re-launched its mezzanine finance business, continuing the company's focus on providing non-traditional financial solutions for corporate and institutional customers. Huntington said that its mezzanine finance program provides funding to established, medium-sized companies.

This product provides financing that a client can't get through traditional bank means, bridging the gap between what the borrower needs and what the bank is willing to lend, based on standard collateral advances.

The name “mezzanine” comes from the product’s position on the middle floor in a company's capital structure, between the "ground floor" of equity and the "first floor" of debt.

Typically, a company seeks mezzanine financing for rapid internal expansion, external acquisition opportunities, debt restructuring, succession planning, and/or management or leveraged buyouts.

Mezzanine loans have terms of three to five years, and are subordinate to senior financing.

"Our typical customer is a company seeking a loan of $1 to $10 million," said Randy Stickler, Huntington senior executive vice president. "This gives Huntington customers an advantage, as most of our competitors focus on larger transactions."

Stickler added that customers who get mezzanine financing may also want senior financing and treasury management services through Huntington. "When a mezzanine transaction is combined with senior financing, the customer gets significant flexibility in terms of structure, negotiation and reporting," he said.

Ohio-based Huntington Bancshares is a regional bank holding company with more than 600 banking offices.

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