Printer Friendly

FIRST UNION REDEEMS ITS FLOATING RATE NOTES DUE 1997

 ROANOKE, Va., April 27 /PRNewswire/ -- The board of directors of First Union Corporation of Virginia today elected to redeem on May 27, 1993, the corporation's $40 million of Floating Rate Subordinated Notes Due 1997.
 The notes were assumed by First Union Corporation of Virginia in connection with the acquisition of Dominion Bankshares Corporation on March 1, 1993.
 The redemption price is 100 percent of the principal amount of the Notes. The interest payment due on the Notes on May 27, 1993 will be paid in the usual manner. Interest on the Notes will cease to accrue from and after the redemption date.
 At Mar. 31, 1993, First Union Corporation (NYSE: FTU FTUpr), the parent corporation of First Union Corporation of Virginia, reported assets of $63.2 billion, and operated 1,238 banking offices in Florida, North Carolina, South Carolina, Georgia, Virginia, Tennessee, Maryland, and Washington D.C., and 238 nonbanking offices in 36 states and the District of Columbia. Including pending acquisitions expected to be completed in the second quarter of 1993, First Union Corporation is expected to operate approximately 1,300 banking offices and have assets of approximately $71 billion, which would make it the nation's eighth largest bank holding company.
 -0- 4/27/93
 /CONTACT: (Media) Jeep Bryant, 704-374-2957, or (Investor) Sean Fox 704-374-4353, both of First Union Corporation/
 (FTU)


CO: First Union Corporation of Virginia; First Union Corporation ST: North Carolina IN: FIN SU:

MM -- CH014 -- 1555 04/27/93 16:03 EDT
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:Apr 27, 1993
Words:246
Previous Article:PRUDENTIAL HOME MORTGAGE CERTIFICATES 1993-17 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
Next Article:APPALACHIAN POWER TO REDEEM BONDS
Topics:


Related Articles
CHEMICAL BANKING CORPORATION TO REDEEM LONG-TERM DEBT
FIRST UNION REDEEMS ITS FLOATING RATE NOTES DUE 1996 (d)
FIRST UNION REDEEMS ITS FLOATING RATE NOTES DUE 1996
FLEET FINANCIAL GROUP TO REDEEM SUBORDINATED CAPITAL NOTES
FIRST CHICAGO TO REDEEM NOTES
FIRST FIDELITY BANCORP RATINGS WITHDRAWN BY FITCH -- FITCH FINANCIAL WIRE --
Community First Bankshares Calls Convertible Preferred Stock and 7.75% Subordinated Notes
Fitch Expects First Union SL Trust $391M 1997-1 Notes 'AAA' - Fitch Financial Wire -
Magnum Hunter Redeems $60 Million of 10% Senior Notes Due 2007; Increases Senior Bank Credit Facility to $350 Million.
M&T Bank Commences Exchange Offer for up to $500,000,000 of Its 8.000% Subordinated Notes Due 2010.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters