CLEVELAND, May 2 /PRNewswire-FirstCall/ -- National City Corporation
(NYSE: NCC) today announced that it has completed its previously announced
capital investment transactions, raising a total of $7 billion in equity
capital.
In the transactions, National City issued 126.2 million shares of common
stock at a purchase price of $5.00 per share and an aggregate of approximately
63,690 shares of Contingent Convertible Perpetual Non-Cumulative Preferred
Stock, Series G, at a purchase price of $100,000 per share.
The capital infusion increases National City's capital ratios well above
the high end of the company's targeted ranges.
About National City
National City Corporation (NYSE: NCC), headquartered in Cleveland, Ohio,
is one of the nation's largest financial holding companies. The company
operates through an extensive banking network primarily in Ohio, Florida,
Illinois, Indiana, Kentucky, Michigan, Missouri, Pennsylvania, and Wisconsin
and also serves customers in selected markets nationally. Its core businesses
include commercial and retail banking, mortgage financing and servicing,
consumer finance and asset management. For more information about National
City, visit the company's Web site at nationalcity.com .
SOURCE: National City Corporation
CONTACT:
Investor Contact:
Jill Hennessey
+1-216-222-9253
jill.hennessey@nationalcity.com
Media Contact:
Kristen Baird Adams
+1-216-222-8202
kristen.bairdadams@nationalcity.com
both of National City
Corporation
