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WEBSTER FINANCIAL TO OFFER 8 3/4 PERCENT SENIOR NOTES DUE 2000

 WATERBURY, Conn., June 18 /PRNewswire/ -- Webster Financial Corporation (NASDAQ: WBST) announced the effectiveness today of its registration statement filed with the Securities and Exchange Commission under the Securities Act of 1933 with respect to an offering of up to $40 million principal amount, but not less than $25 million, of 8 3/4 percent Senior Notes due 2000. The offering is being made by an investment banking firm as selling agent for Webster Financial Corporation on a "best efforts basis" primarily to institutional investors.
 Webster Financial Corporation is the holding company for First Federal Bank. Webster intends to use $18.25 million of the net proceeds of the offering to redeem the remaining shares of Series A Perpetual Preferred Stock issued to the Federal Deposit Insurance Corporation in connection with First Federal Bank's acquisition on Oct. 2, 1992 of most of the assets and all of the deposits of First Constitution Bank in an FDIC-assisted transaction. The balance of the net proceeds will be retained initially at the holding company level for general corporate purposes.
 The offering is being made only by means of a prospectus. The offering is to be completed on June 29, 1993.
 -0- 6/18/93
 /CONTACT: John V. Brennan of Webster Financial, 203-755-1422/
 (WBST)


CO: Webster Financial Corporation ST: Connecticut IN: FIN SU: OFR

DJ -- NE006 -- 3621 06/18/93 14:07 EDT
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Publication:PR Newswire
Date:Jun 18, 1993
Words:228
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