CHARLOTTE, NC --NationsBank Corp said it was increasing by $50 million its 10-year subordinated note offering because of strong demand.

The issue, which now totals $600 million, is part an offering that also includes $400 million of senior notes.

Both portions of the offerings were part of a $4 billion shelf registration for debts securities and preferred and common stock previously declared effectively by the Securities and Exchange Commission.

The 10-year, noncallable subordinated notes have a coupon of 6.50%. Merrill Lynch & Co. is lead manager. Moody's Investors Service announced late Thursday -- after the offering was priced -- that it had upgraded NationsBank debt.

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