Citicorp, Chase Gear Up to Raise Debt with Shelf Registrations
Two big New York banks have positioned themselves to take advantage of low interest rates.
Citicorp filed a shelf registration to issue up to $1.5 billion in notes, warrants, or currency warrants. And Chase Manhattan Corp. filed two shelf registrations, one to issue to $1 billion in debt securities and one to issue as much as $250 million in preferred stock.
Both banks said they will use the proceeds for general corporate purposes, including debt repayment. Underwriters were not named.
