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December 12, 2012
16:34 EDTFITB, VNTVFifth Third Bancorp prepays $1B term debt, takes $134M pre-tax charge
Fifth Third (FITB) sold a total of 13.7M shares of Vantivís (VNTV) Class A common stock. The sale represents approximately 16.3% of Fifth Thirdís ownership position in Vantiv. Fifth Third expects to recognize a pre-tax gain of approximately $155M, approximately $100M after-tax, during Q4. Fifth Third has prepaid the $1B of FHLB term debt that was scheduled to mature on January 5, 2016. This action resulted in a prepayment charge of $134M pre-tax. Fifth Third expects net interest savings through the maturity date of approximately the same amount. This would represent approximately $40M-$45M in annual net interest income benefit, or approximately 4 bps benefit to net interest margin.
News For FITB;VNTV From The Last 14 Days
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September 18, 2014
16:04 EDTFITBFifth Third Bancorp releases results of its mid-cycle stress test
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September 15, 2014
16:39 EDTVNTVVantiv initiated with a Neutral at Piper Jaffray
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16:33 EDTVNTVVantiv initiated with a Buy at Sterne Agee
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September 10, 2014
05:05 EDTVNTVVantiv announces support of Apple Pay
Vantiv (VNTV) announced it is supporting Apple Pay, Apple's (AAPL) new NFC payment solution for the iPhone 6 and iPhone 6 Plus.
September 9, 2014
09:17 EDTVNTVVantiv outlook has improved, shares should be bought, says BMO Capital
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