KeyCorp to sell trust preferred securities; pricing expected Wednesday

By Andrea Heisinger

Omaha, Feb. 19 - KeyCorp Capital X announced Tuesday it will price an issue of enhanced trust preferred securities, according to market sources.

The securities will be $25 each, with pricing expected Wednesday afternoon, a source close to the deal said.

Bookrunners are Citigroup Global Markets Inc. and Wachovia Capital Securities LLC. KeyBanc Capital Markets is a joint lead manager.

Co-managers are Merrill Lynch, Morgan Stanley, UBS Investment Bank, Banc of America Securities LLC and RBC Capital Markets.

Proceeds will be used to purchase junior subordinated debentures.

The holding company for KeyBank NA is based in Cleveland.

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