NEW YORK - Republic New York Corp. said it will use the net proceeds of its $250 million subordinated note issue due October 2008 to redeem three issues of floating-rate notes.

The company said it will redeem its floating-rate notes due 2004 and floating-rate subordinated notes due 2009 and 2010.

As reported, the subordinated notes due 2008 were priced Oct. 14 and sold through underwriters led by Salomon Brothers.

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