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FLEET/NORSTAR FINANCIAL GROUP SELLS $107 MILLION 8.625 PERCENT SUBORDINATED NOTES DUE 2007

 FLEET/NORSTAR FINANCIAL GROUP SELLS $107 MILLION 8.625 PERCENT
 SUBORDINATED NOTES DUE 2007
 PROVIDENCE, R.I., Jan. 16 /PRNewswire/ -- Fleet/Norstar Financial Group (NYSE: FNG) announced today that it has sold $107 million of 8.625 percent subordinated notes at a price of 99.125 percent to yield 8.73 percent. The notes, which were increased from an original amount of $100 million, will mature on Jan. 15, 2007 and are not redeemable prior to maturity.
 The notes were issued pursuant to a registration statement filed by Fleet/Norstar Financial Group with the Securities and Exchange Commission under Rule 415. The registration statement became effective on June 17, 1991. Following the current offering, approximately $288 million of debt securities will remain in registration.
 Fleet/Norstar said it intends to use the net proceeds for general corporate purposes, principally to fund extensions of credit to or investments in its subsidiaries. The issue was co-managed by Salomon Brothers Inc. and Merrill Lynch Capital Markets.
 Fleet/Norstar Financial Group is a diversified financial services company listed on the New York Stock Exchange. Fleet/Norstar has approximately 1,300 offices nationwide. Its lines of business include commercial and consumer banking, mortgage banking, consumer finance, asset-based lending, trust banking, and student loan processing.
 -0- 1/16/92
 /CONTACT: Robert W. Lougee, Jr., 401-278-5879; Bruce P. Crooks, 401-278-6241; Charles T. Conway, Jr., 401-278-6240; or Thomas L. Lavelle 617-573-7733, all of Fleet/Norstar/
 (FNG) CO: Fleet/Norstar Financial Group ST: Rhode Island IN: FIN SU:


PB -- NE013 -- 0753 01/16/92 17:40 EST
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Publication:PR Newswire
Date:Jan 16, 1992
Words:258
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