A $100 million issue of 10-year subordinated debentures was offered by Meridian Bancorp, Reading Pa., through First Boston Corp.
The 7.875% issue was priced at 99.697 to yield 7.92%, 100 basis points higher than the yield on 10-year Treasury notes. The noncallable debentures are rated Baal by Moody's and BBB by Standard & Poor's.