BOSTON -- First National Bank of Boston, a unit of Bank of Boston Corp., issued $200 nillion of subordinated bank notes due Sept. 15, 2004, according to lead mailer Menill Lynch.
The notes were given a coupon of 8% and priced at 99.074 to yield 8.138%, or 73 basis points over comparable U.S. Treasuries.
Noncallable for life, the issue is expected to be rated Baal by Moody's Investors Service Inc. and BBB-plus by Standard & Poor's Corp.