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BANKERS TRUST $100 MILLION PREFERRED RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --

 BANKERS TRUST $100 MILLION PREFERRED RATED 'A+' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, March 18 /PRNewswire/ -- Bankers Trust New York Corp.'s $100 million 8.55 percent preferred stock is rated 'A+' by Fitch.
 The preferred stock is part of a unique financing package being used by Bankers Trust to raise Tier I capital. The corporation's principal subsidiary, Banker Trust Co., has issued $100 million of 6.9 percent subordinated notes which mature on March 1, 1995. The notes will be used to purchase $100 million of the corporation's 8.55 percent preferred stock. Subordinated note holders will receive total interest payments equaling 8.55 percent, which equates to the preferred stock dividend to be paid after the exchange of the notes for the preferred. The 8.55 percent effective yield is generated by the 6.9 percent coupon rate plus a contract fee of 1.65 percent.
 With the purchase of the preferred stock being mandatory, the corporation can include the $100 million of preferred stock in its risk- adjusted Tier I capital ratio.
 The offering includes four million preferred purchase units consisting of $100 million of 6.9 percent subordinated notes of Bankers Trust Co. with a preferred stock purchase contract attached. The bank's subordinated notes are guaranteed by the parent company, Bankers Trust New York Corp. Each unit consists of $25 principal amount of the bank's subordinated notes, the guarantee of Bankers Trust New York Corp., and a corresponding purchase contract. All three items are not separable and may be transferred only as a unit.
 Each purchase contract requires the holders to purchase, on March 1, 1995, one depositary share representing a one-fourth interest in a share of 8.55 percent Cumulative Series I preferred stock of the corporation, at a purchase price of $25 per share.
 Bankers Trust's current level of profitability, strong liquidity, and risk-adjusted capital ratios all provide important support for the preferred stock rating assigned to this new offering.
 -0- 3/18/92
 /CONTACT: Fred W. DeBussey of Fitch, 212-908-0521/
 (BT) CO: Bankers Trust New York Corp. ST: New York IN: FIN SU: RTG


SH -- NY065 -- 9312 03/18/92 14:20 EST
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Publication:PR Newswire
Date:Mar 18, 1992
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