SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
January 29, 1997
(Date of earliest event reported)
Peoples Heritage Financial Group, Inc.
(Exact name of registrant as specified in its charter)
Maine 0-16947 01-0437984
(State or other (Commission File Number) (IRS Employer
jurisdiction Identification No.)
of incorporation)
P.O. Box 9540, One Portland Square, Portland, Maine 04112-9540
(Address of principal executive offices) (Zip Code)
(207) 761-8500
(Registrant's telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year,
if changed since last report)
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ITEM 5. OTHER EVENTS
On January 29, 1997, Peoples Heritage Financial Group, Inc. issued the
press release which is included as Exhibit 99(a) hereto.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) Not applicable.
(b) Not applicable.
(c) The following exhibits are included with this Report:
Exhibit 99(a) Press Release, dated January 29, 1997
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
PEOPLES HERITAGE FINANCIAL GROUP, INC.
By: /S/ PETER J. VERRILL
------------------------
Name: Peter J. Verrill
Title: Executive Vice President, Chief
Operating Officer, Chief Financial
Officer and Treasurer
Date: January 29, 1997
PEOPLES HERITAGE FINANCIAL GROUP, INC. NEWS RELEASE
For Immediate Release
For Further Information, Contact
Brian Arsenault, Corporate Communications Officer
(207) 761-8517
Peoples Heritage Announces Sale of $100 Million of 9.06% Capital Securities
Portland, Maine, January 29, 1997 -- Peoples Heritage Financial
Group, Inc. (NASDAQ:PHBK) announced today the private sale of $100 million
of 9.06% Capital Securities to be issued by Peoples Heritage Capital Trust
I, a statutory business trust sponsored by Peoples Heritage. The Trust
recently was created under Delaware law solely to facilitate the issuance
of the Capital Securities, loan the proceeds from the issuance of the
Capital Securities to Peoples Heritage and engage in associated incidental
activities.
The proceeds from the sale of the Capital Securities will be used
by the Trust to purchase from Peoples Heritage 9.06% Junior Subordinated
Debentures due February 1, 2027. Peoples Heritage intends to use the
proceeds from the issuance of the Junior Subordinated Debentures for general
corporate purposes. The proceeds from the sale of the Capital Securities
will qualify as Tier 1 capital under the capital guidelines of the Federal
Reserve Board.
The Capital Securities of the Trust have not been registered under the
Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements.
