Fifth Third Bancorp (FITB) is expanding its capacity to take on debt and has wrapped up a $100 million stock buyback.
The Cincinnati company has offered $1.3 billion in senior notes, with terms of three and five years, it said
Fifth Third's shares closed Friday at $15.83, down 2 cents.
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Fifth Third raised its capacity to issue senior unsecured debt under its global notes program to $25 billion from $20 billion. After the current $1.3 billion sale, the bank will have issued $2.3 billion in outstanding notes under this program.
The bank is selling five-year notes at 1.45%, three-year notes at 0.90% and three-year floating notes at Libor plus 41 basis points.
The news was