Fifth Third Bancorp Announces Redemption of MB Financial Capital Trust III
August 09 2019 - 2:03PM
Business Wire
Fifth Third Bancorp (Nasdaq: FITB) today announced that it has
submitted a redemption notice to the trustee for redemption on
September 23, 2019, of all the outstanding trust preferred
securities issued by MB Financial Capital Trust III.
MB Financial Capital Trust III securities (no CUSIP) have a
current distribution rate of 3 month LIBOR plus 1.50 percent and a
scheduled maturity date of September 23, 2036, although they may be
redeemed on any interest payment date on or after September 23,
2011. The outstanding principal balance is $10,000,000. The
redemption price will be $1,000 per security, which reflects 100
percent of the liquidation amount, plus accrued and unpaid
distributions to the actual redemption date of $9.71 per security
will be paid. The redemptions will be funded with available
cash.
The redemption or paying agent for the MB Financial Capital
Trust III securities is:
Wilmington Trust 1100 North Market Street Wilmington, DE 19890
Attn: Michael Wass
About Fifth Third
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio. As of June 30, 2019, the Company
had $169 billion in assets and operates 1,207 full-service Banking
Centers, and 2,551 Fifth Third branded ATMs in Ohio, Kentucky,
Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia,
Georgia and North Carolina. In total, Fifth Third provides its
customers with access to approximately 53,000 fee-free ATMs across
the United States. Fifth Third operates four main businesses:
Commercial Banking, Branch Banking, Consumer Lending, and Wealth
& Asset Management. Fifth Third is among the largest money
managers in the Midwest and, as of June 30, 2019, had $399 billion
in assets under care, of which it managed $46 billion for
individuals, corporations and not-for-profit organizations through
its Trust and Registered Investment Advisory businesses. Investor
information and press releases can be viewed at www.53.com. Fifth
Third’s common stock is traded on the NASDAQ® Global Select Market
under the symbol “FITB.” Fifth Third Bank was established in 1858.
Deposit and Credit products are offered by Fifth Third Bank. Member
FDIC.
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version on businesswire.com: https://www.businesswire.com/news/home/20190809005370/en/
Chris Doll (Investor Relations) Christopher.Doll@53.com |
513-534-2345
Gary Rhodes (Media Relations) Gary.Rhodes@53.com |
513-534-4225
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