Printer Friendly

FLEET FINANCIAL GROUP AGREES TO SELL 11 MILLION SHARES OF COMMON STOCK

 PROVIDENCE, R.I., Feb. 10 /PRNewswire/ -- Fleet Financial Group (NYSE: FLT) announced today that it has agreed to sell 11,000,000 shares of common stock at a price of $32.50 per share. The issue was increased from the initial 10,000,000 shares filed with the Securities and Exchange Commission on Jan. 25, 1993.
 The offering was underwritten by a syndicate led by Merrill Lynch & Co., The First Boston Corp., Goldman, Sachs & Co., Lehman Brothers, Montgomery Securities, and Salomon Brothers Inc. The underwriters have an option to purchase an additional 1,650,000 shares of Fleet common stock for over-allotments at a price of $32.50 per share.
 Fleet intends to use the net proceeds for general corporate purposes, principally to fund investments in, or extend credit to, its subsidiaries, or potentially for the retirement or repurchase of portions of its preferred stock.
 Fleet Financial Group is a $47-billion diversified financial services company listed on the New York Stock Exchange (NYSE: FLT) with approximately 1,100 offices nationwide. Its lines of business include commercial and consumer banking, mortgage banking, consumer finance, asset-based lending, investment management, and student loan processing.
 -0- 2/10/93
 /CONTACT: Robert W. Lougee, Jr., vice president, corporate communications, 401-278-5879; Bruce Crooks, 401-278-6241, Judith Ragge, 401-278-6444, Thomas L. Lavelle, 401-278-3003, all of Fleet Financial/
 (FLT)


CO: Fleet Financial Corporation ST: Rhode Island IN: FIN SU: OFR

CH -- NE019 -- 5410 02/10/93 17:57 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 10, 1993
Words:240
Previous Article:MSR EXPLORATION LTD. ANNOUNCES FOURTH QUARTER RESULTS
Next Article:LINCARE HOLDINGS ANNOUNCES RECORD FOURTH QUARTER AND FULL-YEAR FINANCIAL RESULTS
Topics:


Related Articles
FLEET/NORSTAR FINANCIAL GROUP AGREES TO SELL $100 MILLION OF PREFERRED STOCK
FLEET/NORSTAR FINANCIAL GROUP DECLARES COMMON STOCK DIVIDEND
FLEET/NORSTAR FINANCIAL GROUP TO CALL CONVERTIBLE DEBENTURES
FLEET FINANCIAL GROUP DECLARES COMMON AND PREFERRED STOCK DIVIDENDS
FLEET FINANCIAL GROUP ANNOUNCES SECOND DIVIDEND INCREASE IN SIX MONTHS
FLEET FINANCIAL GROUP ANNOUNCES THIRD DIVIDEND INCREASE IN 12 MONTHS
FLEET FINANCIAL GROUP INCREASES COMMON STOCK DIVIDEND 3 CENTS, TO 43 CENTS PER SHARE; DECLARES PREFERRED STOCK DIVIDENDS
FLEET FINANCIAL $1.0 BILLION SHELF 'A' FOR SENIOR DEBT BY FITCH -- FITCH FINANCIAL WIRE --
FLEET FINANCIAL GROUP REACHES AGREEMENT WITH KOHLBERG, KRAVIS, AND ROBERTS
Fleet Announces Plan for Stock Repurchase and Strategic Disposition of Three Business Units

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters