MONTGOMERY, Ala. -- Colonial BancGroup Inc. said it would record a charge of 7 cents a share in the third quarter because of debt redemption.

But the company added that the move, in which new debt with a lower interest rate was taken on, would raise fully diluted earnings by 2 cents to 3 cents a share for the remainder of the year and by 6 cents to 9 cents a share in 1994.

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