ABBEY NATIONAL HAS ONE BILLION DLR EURO CD PACT
Abbey National, the second largest
building society in the U.K., Said it has arranged a one
billion dlr euro-certificate of deposit program.
    It said this is the largest such program to date for a
building society and the first to be denominated in U.S.
Dollars.
    Citicorp Investment Bank Ltd is lead manager and arranger
for the program and will act as a dealer, along with Shearson
Lehman Brothers International, Swiss Bank Corp International
Ltd and S.G. Warburg and Co Ltd.
    Abbey National has been very active in the international
capital markets ever since building societies were permitted by
law to tap the wholesale markets.
    The building society's general manager, finance, James
Tyrrell, said in a statement the program is part of Abbey's
strategy of spreading its funding option from what has recently
been medium/long term into shorter term instruments.
    He said this also widens Abbey's investor base.
 REUTER
