Loan & DebtJun 10, 2026, 04:37 PM
Fifth Third Bancorp Completes $1.27B Note Exchange Offers
AI Summary
Fifth Third Bancorp completed its previously announced exchange offers and consent solicitations on June 10, 2026. The company exchanged certain outstanding notes, originally issued by Comerica and assumed by Fifth Third Financial Corporation, for new Fifth Third Bancorp notes and cash. Concurrently, the related consent solicitations to amend the indentures governing the existing notes were also completed, eliminating specific covenants, restrictive provisions, and events of default.
Key Highlights
- Completed exchange offers and consent solicitations for existing notes on June 10, 2026.
- Accepted $334,781,000 of 4.000% Senior Notes due 2029 for exchange.
- Accepted $938,170,000 of 5.982% Fixed-To-Floating Rate Senior Notes due 2030 for exchange.
- Approximately $1.27 billion in aggregate principal amount of notes were accepted for exchange.
- Remaining outstanding 4.000% Senior Notes due 2029 total $215,219,000.
- Remaining outstanding 5.982% Fixed-To-Floating Rate Senior Notes due 2030 total $61,830,000.
- Requisite consents received to amend indentures, eliminating certain covenants and events of default.
Price Impact
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