CHARLOTTE, N.C. - First Union Capital Markets Corp. has closed an $80 million private placement for Conair Corp., marking the first investment banking deal involving both First Union and First Fidelity.

The offering was a placement of $80 million senior notes with a $25 million tranche bearing a coupon of 6.89% due in 2005 and a $55 million tranche bearing a coupon of 7.11% due in 2010.

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