Company: FITBI
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000035527-25-000079
Chunk: 311

Company: FIFTH THIRD BANCORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 311
---
, 2024.(e)This rate reflects the fixed rate in effect as of December 31, 2023.The Bancorp pays down long-term debt in accordance with contractual terms over maturity periods summarized in the previous table. The aggregate annual maturities of long-term debt obligations (based on final maturity dates) as of December 31, 2024 are presented in the following table:($ in millions)Parent CompanySubsidiariesTotal2025$750 756 1,506 2026— 2,429 2,429 20271,220 613 1,833 20282,034 587 2,621 20291,246 82 1,328 Thereafter4,271 349 4,620 Total$9,521 4,816 14,337 At December 31, 2024, the Bancorp’s long-term borrowings consisted of outstanding principal balances of $14.5 billion, net discounts of $13 million, debt issuance costs of $31 million and reductions for mark-to-market adjustments on its hedged debt of $103 million. At December 31, 2023, the Bancorp’s long-term borrowings consisted of outstanding principal balances of $16.5 billion, net discounts of $14 

163 Fifth Third Bancorp

Table of ContentsNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

million, debt issuance costs of $32 million and reductions for mark-to-market adjustments on its hedged debt of $38 million. The Bancorp was in compliance with all debt covenants at December 31, 2024 and 2023.For further information on a subsequent event related to long-term debt, refer to Note 32. Parent Company Long-Term BorrowingsSenior notesOn March 14, 2018, the Bancorp issued and sold $650 million of senior notes to third-party investors. The senior notes bear a fixed-rate of interest of 3.95% per annum. The notes are unsecured, senior obligations of the Bancorp. Payment of the full principal amounts of the notes is due upon maturity on March 14, 2028. These fixed-rate senior notes will be redeemable by the Bancorp, in whole or in part, on or after the date that is 30 days prior to the maturity date at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest up to, but excluding, the redemption date.On October