KeyCorp Raises $625 Million in Stock Sale to Repay U.S. Rescue
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KeyCorp, Ohio’s second-biggest bank, raised $625 million selling shares as part of a plan to repay a U.S. bailout after a Federal Reserve review of the company’s capital strength.
KeyCorp, based in Cleveland, sold 70.6 million shares of common stock at $8.85 each, the bank said today in a statement.