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Fifth Third Bancorp to redeem CNB 6% convertible trust preferreds
New York, Dec. 13 - Fifth Third Bancorp said it will redeem on Dec. 31, 2001 all the outstanding 6% shared preference redeemable securities due 2028 issued by CNB Capital Trust I.
The Cincinnati, Ohio financial services company will pay $25 par plus accrued interest for the convertibles.
The securities were originally issued by CNB Bancshares, Inc. via the financing trust.
Holders can convert the securities into 0.6401 shares of Fifth Third Bancorp stock up until 5 p.m. ET on Dec. 28, 2001.
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