FIRST INTERSTATE BANCORP <I> FILES DEBT OFFER
First Interstate Bancorp said it
has filed a shelf registration with the Securities and Exchange
Commission for up to 1.50 billion dlrs principal amount of its
debt securities.
    The filing consists of 1.00 billion dlrs of senior debt
securities and 500 mln dlrs of subordinated debt securities,
including capital securities.
    The securities may be offered from time to time through
underwriters or by the company directly, or through agents, it
said.
    First Interstate said net proceeds would be used
principally to fund investments in, or extensions of credit to,
the company's subsidiaries, or to repay loans incurred for such
purposes.
    It called the filing part of the company's "regularly
scheduled funding activities."
    First Interstate said the filing brings to 5.45 billion
dlrs the total amount of debt securities covered under this and
eight earlier shelf registrations.
 Reuter
