BANKING

NationsBank Making $200 Million Investment in MNC: NationsBank Corp. said that in addition to the strategic investment in Baltimore Md.-based MNC Financial Inc., it has an option to buy the ailing Baltimore-based banking company outright during the next five years. The No. 4 ranked U.S. bank described the investment as a capital infusion that would help MNC combat financial difficulties posed by problem real estate loans. Under the agreement, NationsBank will purchase newly issued preferred stock by Sept. 30 that can be converted into 17 million MNC common shares representing a 16% stake. MNC said the deal equals an effective purchase price of $11.75 per common share.