Fifth Third issues call for $40 million of preferreds from two trusts

By Toni Weeks

San Diego, Aug. 2 - Fifth Third Bancorp issued a call to redeem $40 million of its trust preferred securities, according to a filing with the Securities and Exchange Commission.

On Sept. 19, the company intends to redeem $25 million of First National Bankshares Statutory Trust II's floating-rate securities and $15 million of R&G Capital Trust IV, LLT's floating-rate securities.

The company announced on March 18 that the Federal Reserve Board did not object to the potential redemptions of such securities as proposed potential capital actions in Fifth Third's capital plan.

The redemptions will be funded with excess cash.

The financial services company has its headquarters in Cincinnati.

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