Investors' hunger for high yields in a low-rate market enabled Citicorp to successfully sell $1 billion in convertible preferred stock this week.

Citicorp originally planned to sell $650 million of the issue. But the 8.25% annual dividend yield of the securities, combined with what investors said was a more honest approach to discussing the banking company's problems, sparked a buying spree that prompted an increase in the offering's size.

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