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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15d of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 8, 1997
KEYCORP
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(Exact name of registrant as specified in its charter)
Ohio 0-850 63-0593897
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(State or other Commission File (I.R.S. Employer
jurisdiction of Number Identification No.)
incorporation or
organization)
127 Public Square, Cleveland, Ohio 44114-1306
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (216) 689-6300
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ITEM 5. OTHER EVENTS
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On April 8, 1997, KeyCorp issued a press release announcing it had signed a
definitive agreement to acquire Leasetec Corporation ("Leasetec"), a leading
privately-held equipment leasing company headquartered in Boulder, Colorado.
Leasetec operates in the U.S. and eighteen foreign countries and at
December 31, 1996, had total assets of approximately $1.1 billion (unaudited).
As part of the agreement, Tokyo Leasing (USA) will continue to hold a 20
percent stake in Leasetec. The transaction will be accounted for as a
purchase and is expected to close in the third quarter of 1997.
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SIGNATURE
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.
KEYCORP
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(Registrant)
Date: April 10, 1997 /s/ Lee Irving
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By: Lee Irving
Executive Vice President
and Chief Accounting Officer
