PITTSBURGH -- Mellon Bank Corp. said it will redeem all $68 million of its outstanding Series B convertible preferred stock at $25 a share, plus accrued dividends to the date of redemption. The company said the redemption date for the preferred stock is Dec. 1. Mellon Bank also said it will redeem all $28 million outstanding of its 8.6% debentures due 2009 on Dec. 1.
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