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.

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