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Fifth Third Bancorp $750 Million Subordinated Notes Offering and Fifth Third Bank $1.75 Billion Senior Bank Notes Offering

Davis Polk advised Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Fifth Third Securities, Inc., Goldman, Sachs & Co. and Morgan Stanley & Co. LLC as joint book-running managers on a $750 million SEC-registered offering of 4.30% subordinated notes due 2024 by Fifth Third Bancorp and as agents on concurrent offerings of $1 billion of 1.15% senior notes due 2016 and $750 million senior floating-rate notes due 2016 by Fifth Third Bank, a subsidiary of Fifth Third Bancorp, pursuant to Section 3(a)(2) of the Securities Act of 1933.  

Fifth Third is a diversified financial services company headquartered in Cincinnati, Ohio. At December 31, 2012, Fifth Third operated 15 affiliates with 1,325 full-service Banking Centers, including 106 Bank Mart® locations open seven days a week inside select grocery stores and 2,415 ATMs in 12 states throughout the Midwestern and Southeastern regions of the United States.  At December 31, 2012, Fifth Third had consolidated total assets of $122 billion and had $308 billion in assets under care, of which it managed $27 billion for individuals, corporations and not-for-profit organizations. 

The Davis Polk capital markets team included partners Richard D. Truesdell, Jr. and John B. Meade and associates Peter E. Devlin and Ferrell Maguire. Partner Luigi L. De Ghenghi, counsel Reena Agrawal Sahni and associate Jon B. Shields advised on bank regulatory matters. Partner Rachel D. Kleinberg and associate Avinash Venkatesh provided tax advice. Karla A. Rivera Fortis was the legal assistant on the transaction. Members of the Davis Polk team are based in the New York and Menlo Park offices.