Printer Friendly

NATIONSBANK CORP. $400 MILLION 6-7/8 PERCENT SUBORDINATED NOTES RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Feb. 23 /PRNewswire/ -- NationsBank Corp.'s (NYSE: NB) newly issued $400 million of 6-7/8 percent subordinated notes, due Feb. 15, 2005 are rated 'A' by Fitch. The credit trend is improving.
 Use of proceeds from this new issue will be for general corporate purposes, which could include injection of subordinated debt into several banking subsidiaries to build Tier II risk-adjusted capital. The proceeds could also be utilized as a portion of the consideration, expected to include cash and common stock, to be paid for the acquisition of MNC Financial, Inc.
 NationsBank announced last week that it will exercise its option to acquire MNC, a Baltimore based banking company with total assets of $16.7 billion. NationsBank's original stake-out investment in MNC was accomplished last July when the corporation invested $200 million in MNC.
 -0- 2/23/93
 /CONTACT: Fred W. DeBussey of Fitch, 212-908-0521/
 (NB)


CO: NationsBank Corp. ST: South Carolina IN: FIN SU: RTG

SH -- NY065 -- 9461 02/23/93 13:39 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 23, 1993
Words:167
Previous Article:FEDERAL SIGNAL RECEIVES SIREN ORDER FROM HOLLAND
Next Article:COMMERCE GROUP CORP. ISSUES STATEMENT ON EQUIPMENT PURCHASE
Topics:


Related Articles
/C O R R E C T I O N -- FITCH/
REPUBLIC NEW YORK $150 MILLION 7.75 PERCENT SUBORDINATE NOTES RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
NATIONSBANK $350 MILLION 8.125 PERCENT SUBORDINATED DEBENTURES RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --
NATIONSBANK CORP. SENIOR DEBT 'A+', BANK CDS 'A+/F-1' BY FITCH -- FITCH FINANCIAL WIRE --
NATIONSBANK 'A+' SENIOR DEBT AFFIRMED BY FITCH AFTER MNC ANNOUNCEMENT --FITCH FINANCIAL WIRE (FFW)--
BANKERS TRUST $100 MILLION SUBORDINATED NOTES RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
CHEMICAL BANKING $300 MILLION 7.25 PERCENT SUBORDINATED NOTES 'A-' BY FITCH -- FITCH FINANCIAL WIRE --
NATIONSBANK $400 MILLION 6-5/8 PERCENT SENIOR NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
NATIONSBANK CORP. SENIOR MEDIUM TERM NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
NATIONSBANK CORP. $950 MILLION SENIOR/SUBORDINATED NOTES RATED 'A+/A' BY FITCH -- FITCH FINANCIAL WIRE --

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