Printer Friendly

NBD OFFERS SUBORDINATED DEBENTURES

 NBD OFFERS SUBORDINATED DEBENTURES
 DETROIT, Aug. 14 /PRNewswire/ -- NBD Bancorp, Inc. (NYSE: NBD) has


announced the offering of $200 million of 7.25-percent Subordinated Debentures through an underwriting group managed by J.P. Morgan Securities, Inc.
 The debentures mature Aug. 15, 2004, and are priced at 99.7265 percent to yield 7.285 percent to maturity.
 Subordinated debt of NBD Bancorp is rated A1 by Moody's and A+ by Standard & Poor's.
 Net proceeds from the offering will be used to fund additional capital investments in or advances to subsidiary banks. Pending ultimate application, the net proceeds may be temporarily invested in short-term instruments. Management anticipates that NBD Bancorp may engage in additional debt or equity financings in the future.
 Other members of the underwriting group include Goldman, Sachs and Co., Merrill Lynch & Co., Keefe, Bruyette & Woods, Inc., Kidder, Peabody & Co., Lehman Brothers, Inc., Salomon Brothers Inc., The Chicago Corporation, First of Michigan Corporation, McDonald & Company Securities, Inc., Roney & Co.
 -0- 8/14/92
 /NOTE: ILLINOIS EDITORS - NBD Bancorp is the parent company of 18 Metropolitan Chicago Banks with total assets of over $5 billion. OHIO EDITORS - NBD Bancorp is the parent company of NBD Bank with 21 branches in Columbus and Dayton, Ohio. INDIANA EDITORS - NBD Bancorp is the parent company of Midwest Commerce Banking Company of Elkhart, Ind., NBD Gainer Bank of Merrillville, Ind., and Summcorp of Fort Wayne, Ind. NBD has 109 offices in Indiana and $4.8 billion in assets. NBD also has a pending merger agreement with INB Financial Corporation, a $6.6 billion bank holding company based in Indianapolis. FLORIDA EDITORS - NBD Bancorp is the parent company of NBD Trust Company of Florida with offices in North Palm Beach, Sarasota, Boca Raton and Naples, and NBD Bank FSB with offices in Venice, Sarasota, North Palm Beach and Boca Raton.
 CONTACT: J. Richard Johnson, 313-225-2591, or M. Renee Ahee, 313-225-2596, both of NBD Bancorp/
 (NBD) CO: NBD Bancorp, Inc. ST: Michigan IN: FIN SU: OFR


SB -- DE011 -- 9980 08/14/92 11:50 EDT
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:Aug 14, 1992
Words:338
Previous Article:NRC STAFF PROPOSES $100,000 FINE AGAINST ARIZONA PUBLIC SERVICE COMPANY
Next Article:NEW JERSEY RESOURCES CORPORATION FILES COMMON STOCK OFFERING
Topics:


Related Articles
NBD OFFERS SUBORDINATED NOTES
NBD TO REDEEM SUBORDINATED DEBENTURES
NBD OFFERS PREFERRED PURCHASE UNITS
NBD TO REDEEM 7 1/4% CONVERTIBLE SUBORDINATED DEBENTURES DUE 2006
BOARD ELECTED AND PROPOSALS PASSED AT NBD ANNUAL MEETING
NBD BANCORP OFFERS SUBORDINATED NOTES
DUFF & PHELPS: NBD BANCORP INC. $200 MILLION SUBORDINATED NOTES RATED 'AA-'
DCR ASSIGNS 'AA-' TO NEW FIRST CHICAGO NBD CORP.; RATINGS TAKEN OFF WATCH
FIRST CHICAGO $150 MILLION SUBORDINATED DEBT RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --

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