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Article: Bankers Trust New York preferred stock issue.
- Article from:
- PR Newswire
- Article date:
- June 6, 1990
CopyrightCOPYRIGHT 1990 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BANKERS TRUST NEW YORK PREFERRED STOCK ISSUE
NEW YORK, June 6 /PRNewswire/ -- Bankers Trust New York Corporation (NYSE: BT) has priced an issue of $250 million of preferred stock, in four series of $62.5 million each.
The initial dividend rates are as follows: Series E, 6.55 percent; Series F, 6.60 percent; Series G, 6.625 percent; Series H, 6.65 percent. The next dividend rates will be set through a Dutch auction process in 53, 60, 67 and 74 days for the four series, respectively. Subsequent dividend rates will be set through Dutch auctions every 49 days.
The issue, which is expected to be rated a1 by Moody's and A+ by Standard and Poor's, ...