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NBD OFFERS PREFERRED PURCHASE UNITS

 DETROIT, May 4 /PRNewswire/ -- NBD Bancorp, Inc. (NYSE: NBD) today announced the pricing of its offering of $150 million of 7.50 percent Preferred Purchase Units through an underwriting group headed by Merrill Lynch, Pierce, Fenner & Smith Incorporated and co-managed by Goldman, Sachs & Co. and Shearson Lehman Brothers Inc.
 The offering is made under terms of a recently effective shelf registration for $500 million in subordinated debt, preferred equity and convertible securities.
 Each 7.50 percent preferred purchase unit will consist of a 7.40 percent subordinated debenture due May 10, 2023, in a principal amount of $25 and a related purchase contract paying fees of 0.10 percent per year. The contract requires the purchase on May 10, 2023, of one depositary share representing a one-fourth interest in a share of 7.50 percent cumulative preferred stock of NBD Bancorp at a purchase price of $25 per depositary share.
 Net proceeds from the offering will be used for general corporate purposes including working capital needs and investments in or advances to existing or future subsidiaries, and possible future acquisitions.
 The Preferred Purchase Units of NBD Bancorp are rated A1 by Moody's and A+ by Standard & Poor's.
 -0- 5/4/93
 /NOTE: ILLINOIS EDITORS - NBD Bancorp is the parent company of two Metropolitan Chicago banks with total assets of over $5 billion. OHIO EDITORS - NBD Bancorp is the parent company of NBD Bank with 23 branches in Columbus and Dayton, Ohio. INDIANA EDITORS - NBD Bancorp is the parent company of NBD Bank of Elkhart, Ind., NBD Bank, N.A. of Merrillville, Ind., and the INB Banks of Chesterton, Evansville, Fort Wayne, Indianapolis, Jeffersonville and Lafayette, Ind. NBD has 234 offices in Indiana and $11 billion in assets. NBD Bancorp is the largest banking company in the state based on total assets. FLORIDA EDITORS - NBD Bancorp is the parent company of NBD Trust Company of Florida, N.A. with offices in North Palm Beach, Sarasota, Boca Raton and Naples, and NBD Bank, FSB with offices in Venice, Sarasota, North Palm Beach, Boca Raton and Naples.
 /CONTACT: J. Richard Johnson, 313-225-2591, or M. Renee Ahee, 313-225-2596, both of NBD/
 (NBD)


CO: National Bank of Detroit ST: Michigan IN: FIN SU: OFR

SB -- DE034 -- 4516 05/04/93 16:38 EDT
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Publication:PR Newswire
Date:May 4, 1993
Words:378
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