* Plans to use net proceeds to repay TARP
*Shares down 3 pct after market
April 29 U.S. regional bank Fulton Financial
Corp (FULT.O) said it was offering $230 million in common
stock, and intended to use the net proceeds to repay bailout
The bank said it would redeem the stock issued to the U.S.
Treasury following authorization from banking regulators and
formal approval from the Treasury.
The parent company of Fulton Bank N.A., received $376.5
million in bailout funds from the U.S. Treasury.
Barclays Capital is acting as the sole book-running manager
for the offering, Fulton said.
Its shares were down 3 percent at $10.71 in after market
trade. They closed at $11.05 Thursday on Nasdaq.
(Reporting by Brenton Cordeiro in Bangalore; Editing by