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SHAWMUT NATIONAL CORPORATION FILES SHELF REGISTRATION TO ISSUE DEBT SECURITIES AND PREFERRED SHARES

 SHAWMUT NATIONAL CORPORATION FILES SHELF REGISTRATION
 TO ISSUE DEBT SECURITIES AND PREFERRED SHARES
 HARTFORD, Conn., Aug. 11 /PRNewswire/ -- Shawmut National Corporation (NYSE:SNC) announced today that it has filed a registration statement with the Securities and Exchange Commission to issue $500 million in senior and subordinated debt and/or $200 million in preferred stock.
 In its filing, the corporation said that the net proceeds from a securities offering would be used for general corporate purposes, including investment in marketable securities, refinancing of existing debt, and the financing of possible future acquisitions.
 Joel B. Alvord, chairman and chief executive officer of Shawmut National, said, "This shelf filing allows us to maintain our flexibility and to access the market in a timely and efficient fashion as opportunities arise."
 SEC rules permit a corporation to issue securities under a shelf registration at any time within two years of the filing.
 Shawmut National Corporation is a multibank holding company with nearly $23 billion in assets. It is the leading provider of banking services in southern New England to consumers and small- and medium- sized businesses through its network of 321 branches. It is also the largest residential mortgage originator in the region and a regional leader in the trust business. The corporation also provides financial services to corporate customers, correspondent banks, and governmental units in New England and select national markets.
 -0- 8/11/92
 /CONTACT: Robert L. Guenther, 203-240-1267 or Thomas F. Theurkauf (investor contact), 203-728-4872, both of Shawmut National/
 (SNC) CO: Shawmut National Corporation ST: Connecticut, Massacusetts IN: FIN SU:


DD -- NE003 -- 8825 08/11/92 08:56 EDT
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Publication:PR Newswire
Date:Aug 11, 1992
Words:267
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