TITLE

CoreStates reaffirms promise to pay yield-burning victims

AUTHOR(S)
Kuiper, Mark T.
PUB. DATE
November 1997
SOURCE
Bond Buyer;11/25/97, Vol. 322 Issue 30280, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports that CoreStates Financial Corp. has reaffirmed its intention to reimburse Pennsylvania bond issuers allegedly bilked in yield-burning schemes by Meridian Capital Markets should the allegations prove truthful. Aim to have the issue concluded prior to the April 1998 merger date with First Union Corp.; Overcharging for escrow securities in bond refundings done by Meridian.
ACCESSION #
9712051210

 

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