Britain's National Westminster Bank on Monday launched a $250 million offering of noncumulative preference shares in the United States.

In addition, Citicorp increased a preferred stock offering to $325 million from $250 million amid solid demand for the issue. Underwriters led by Lehman Brothers priced the issue at an 8% dividend yield.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.