debt
confidence high
sentiment neutral
materiality 0.50
Fifth Third Bancorp: 93.73% of $1B 2030 notes and 60.10% of $550M 2029 notes tendered in exchange offer
FIFTH THIRD BANCORP
- Early tender: $330.5M (60.1%) of 4.000% 2029 notes and $937.3M (93.7%) of 5.982% 2030 notes tendered.
- Requisite consents received to adopt proposed amendments to indentures for both series; supplemental indenture expected on final settlement date.
- Early exchange consideration: $1,000 of new notes + $1 cash per $1,000 old notes; expiration June 8, 2026.
- Maximum $1.55B aggregate principal of new Fifth Third notes to be issued.