In Brief: Chase Files to Sell $300M of Securities

Chase Manhattan Corp. filed with the Securities and Exchange Commission Thursday to sell up to $300 million in securities through a trust.

The trust, Chase Capital III, will sell the global floating-rate capital securities and use the proceeds from the sale to buy junior subordinated debentures from the parent company, the SEC filing said.

Proceeds from the sale of the debentures will in turn be used by the bank holding company for general corporate purposes, according to the S-3 shelf registration statement.

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