Citicorp, Chase Gear Up to Raise Debt with Shelf Registrations

Two big New York banks have positioned themselves to take advantage of low interest rates.

Citicorp filed a shelf registration to issue up to $1.5 billion in notes, warrants, or currency warrants. And Chase Manhattan Corp. filed two shelf registrations, one to issue to $1 billion in debt securities and one to issue as much as $250 million in preferred stock.

Both banks said they will use the proceeds for general corporate purposes, including debt repayment. Underwriters were not named.

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.