Bank of Boston Corp. said that it successfully sold 2.8 million depositary shares of its new series F preferred stock.
The $70 million offering was priced at $25 per depositary share with an annual dividend rate of 7 7/8%, which will be paid quarterly.
The bank also announced that it successfully sold $100 million in subordinated notes bearing a coupon of 6 7/8% and maturing in June 2003.
Bank of Boston, in winning Federal Reserve Board approval of its acquisition of Multibank Financial Corp., agreed to raise $170 million in capital.
