CoreStates reaffirms promise to pay yield-burning victims

Kuiper, Mark T.
November 1997
Bond Buyer;11/25/97, Vol. 322 Issue 30280, p1
Trade Publication
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.


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