Printer Friendly

NATIONSBANK ENTERS AGREEMENT FOR PUBLIC SALE OF NEWLY ISSUED SHARES

 NATIONSBANK ENTERS AGREEMENT FOR PUBLIC SALE OF NEWLY ISSUED SHARES
 CHARLOTTE, N.C., Feb. 20 /PRNewswire/ -- NationsBank Corporation (NYSE: NB) said today it has entered into an agreement providing for the public sale of 7 million newly issued shares of its common stock for $45 per share.
 "A big part of the story of NationsBank is financial strength, and capital is the key to that strength," said NationsBank Chief Executive Officer Hugh McColl.
 "This sale will enhance our already strong capital position. The reception this offering has received indicates the investment community endorses the company we have built."
 NationsBank said the approximately $307 million in net proceeds from the sale will be used for general corporate purposes, including NationsBank working capital needs, possible additional contributions to the capital of its subsidiaries, or possible acquisitions of other financial institutions or their assets, including failed institutions.
 The stock issue is being underwritten by a syndicate of investment banking companies represented by Merrill Lynch & Co., The First Boston Corporation, Morgan Stanley & Co. Incorporated and The Robinson-Humphrey Company, Inc.
 Six million shares will be sold to investors in the United States and 1 million shares will be sold to investors in Europe.
 Also, NationsBank has granted the underwriters an option to purchase an additional 1.05 million shares of newly issued common stock to cover over-allotments, if any, on the same terms as the Feb. 20, offering. This option may be exercised prior to March 21, 1992.
 The sale of the shares is expected to close on February 27.
 NationsBank Corporation is the fourth-largest banking company in the U.S., with more than $110 billion in assets and full-service banks in nine states and the District of Columbia.
 -0- 2/20/92
 /CONTACT: Virginia S. Mackin, NationsBank Corporation, 704-386-5501, office, or 704-875-1228, home/
 (NB) CO: NationsBank Corporation ST: North Carolina IN: FIN SU: OFR


DF -- CH007 -- 1139 02/20/92 17:12 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 20, 1992
Words:319
Previous Article:STAN ROGOW ENTERS INTO MULTI-YEAR AGREEMENT WITH PARAMOUNT PICTURES
Next Article:ROHR SALES, EARNINGS ANNOUNCED FOR SECOND QUARTER
Topics:


Related Articles
MNC FINANCIAL, INC. RECEIVES $200 MILLION INVESTMENT FROM NATIONSBANK
NATIONSBANK ANNOUNCES AGREEMENT FOR UNDERWRITTEN PUBLIC OFFERING
NATIONSBANK OF DELAWARE ANNOUNCES UNDERWRITING OF $1.3 BILLION OF CREDIT CARD SECURITIES
NATIONSBANK CORPORATION $300 MILLION SUBORDINATED NOTES RATED 'A' BY DUFF & PHELPS
NATIONSBANK ISSUES $250 MILLION IN SENIOR NOTES
NATIONSBANK CORP. $300 MILLION FLOATING RATE SENIOR NOTES 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
DUFF & PHELPS: NATIONSBANK CORPORATION $300 MILLION FLOATING-RATE NOTES RATED 'A+'
NATIONSBANK CORP. $300 MILLION 7.625% SUBORDINATED NOTES RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --
DCR Reaffirms NationsBank Ratings
NationsBank Enters Into Agreements For Underwritten Public Offering

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