Chase Manhattan Corp. will redeem a $125 million issue of preferred stock next month, a move aimed at reducing its capital costs.

A handful of banks in the last few weeks have announced plans to refinance higher-cost subordinated debt or preferred stock, taking advantage of low interest rates and strong investor demand

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.