H.F. Ahmanson & Co. issued $250 million in convertible preferred stock Friday.

The California-based thrift holding company sold five million depositary shares representing series D cumulative convertible preferred stock. Ahmanson may use the additional equity for acquisitions.

6% Dividend Yield

The preferred stock's dividend yield is 6% and the shares are convertible into common stock at $24.335 per share, a 24% premium over the last sale price of the company's common stock.

The preferred shares are non-callable for five years. First Boston Corp. was lead manager of the offering, which is rated Baa3 by Moody's Investors Service and BBB-minus by Standard & Poor's Corp.

Separately, Colonial National Bank USA, a subsidiary of Advanta, issued $50 million of 10-year subordinated debt Friday through First Boston Corp. The issue was priced to yield 7.11%, 130 basis points over the 10-year U.S. Treasury note, Its is rated BBB-minus by Standard & Poor's and Baa3 by Moody's.

Wachovia Bank of North Carolina, a Wachovia Corp. unit, priced $175 million of 4.30% bank notes due Aug. 7, 1995, at par. Goldman, Sachs & Co. was sole manager. The notes yield 17 basis points over comparable U.S. Treasury securities.

The issue is rated Aa2 by Moody's and AA-plus by Standard and Poor's.

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