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CHEMICAL TO ISSUE $200 MILLION OF CUMULATIVE PREFERRED STOCK

 NEW YORK, May 13 /PRNewswire/ -- Chemical Banking Corporation (NYSE: CHL) today announced that it will issue $200 million of cumulative preferred stock through a group of underwriters led by Lehman Brothers.
 Chemical Banking Corporation said that the proceeds from the sale of the preferred stock will be used to redeem the outstanding shares of the corporation's adjustable rate cumulative preferred stock, Series F.
 -0- 5/13/93
 /CONTACT: John Meyers, 212-270-7454, or (investors) John Borden, 212-270-7318, both of Chemical Banking Corporation/
 (CHL)


CO: Chemical Banking Corporation ST: New York IN: FIN SU: OFR

TS-GK -- NY084 -- 8283 05/13/93 16:16 EDT
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Publication:PR Newswire
Date:May 13, 1993
Words:102
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