National City Sells $225 Million of Debt

Ohio-based National City Bank sold $225 million of 15-year debt in five parts for its Cleveland, Dayton, and northwest and northeast branches in Columbus, according to MCM CorporateWatch.

Four $50 million pieces and a $25 million piece were priced to yield 7.287%.

The noncallable issue was priced at a spread of 87.5 basis points above comparable Treasury securities.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER