NEW YORK -- A two-part $100 million issue of NBD Bank notes was priced Friday through underwriters led by Salomon Brothers Inc.
The first tranche, consisting of $50 million of bank notes due May 27, 1996, was priced at par to yield 6.05%: This tranche was priced at a spread of 25 basis points over Treasuries.
The second tranche, consisting of $ 50 million of bank notes, due May 27, 1997, was priced at par to yield 6.40%. It was priced at 30 basis points over Treasuries.
Both tranches are noncallable and are rated Aa2 by Moody's Investors Service Inc. and AA by Standard & Poor's Corp.