Merrill Lynch Planning Occasional Debt Offering
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Merrill Lynch & Co. may offer up to $1 billion in debt securities from time to time, according to a Securities and Exchange Commission filing.
The maturity lengths for the medium-term notes will range from nine months to 10 years with variable rates of interest. The notes will be issued in units ranging from $1,000 to $25,000 each.
The New York-based company will use the proceeds for general corporate purposes, which could include investments in or extensions of credit to subsidiaries, and the lengthening of the average maturity of Merrill Lynch’s borrowings. Merrill Lynch Capital Markets may underwrite the offering.
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