Bank of Boston announces public offering of $200 million subordinated notes.BOSTON--(BUSINESS WIRE)--Sept. 16, 1996--The First National Bank of Boston, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Bank of Boston Corp., announced today the public offering of $200 million in subordinated notes bearing a coupon of 7 3/8 percent. The subordinated notes will be due in September 2006. The notes will be considered Tier 2 capital Tier 2 Capital A term used to describe the capital adequacy of a bank. Tier II capital is secondary bank capital that includes items such as undisclosed reserves, general loss reserves, subordinated term debt, and more. Notes: This is related to Tier 1 Capital. for regulatory purposes. Proceeds from the offering will be used for general banking purposes. The offering is expected to close on Sept. 19, 1996. The underwriting group is led by Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. & Co Inc.
Co-managers of the offering are Chase Securities Inc.; Goldman, Sachs
& Co.; and Lehman Brothers Inc.
BankBoston (NYSE NYSE See: New York Stock Exchange :BKB BKB Basler Kantonalbank (Switzerland) BKB Black King Bar (gaming weapon) BKB BV Kwaliteitsverklaringen Bouw (Dutch) BKB BankBoston Corporation ), with assets of $62.4 billion as of June 30, 1996, was founded in 1784 and is the 15th-largest bank holding company in the United States. A focused financial institution, BankBoston is engaged primarily in commercial and consumer banking in southern New England, providing financing to selected corporations nationally and internationally, and full-service banking in key Latin American markets. New England's only global bank, the corporation's and its subsidiaries operate through a network of 750 offices in the United States and through more than 100 offices in 23 countries in Latin America, Europe and Asia, the third-largest overseas network of any U.S. bank. The corporation's common and preferred stocks are listed on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Boston stock exchanges. CONTACT: Karen Schwartzman (Media) 617/434-7594 or John Kahwaty (Investor) 617/434-3650 |
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