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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
Date of Report (Date of earliest event reported): March 19, 1999
THE COLONIAL BANCGROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-13508 63-0661573
(State of Incorporation) (Commission File No.) (IRS Employer I.D. No.)
One Commerce Street, Montgomery, Alabama 36104
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code: 334-240-5000
Item 5. Other Events
COLONIAL BANK SELLS $100 MILLION
SUBORDINATED DEBT
MONTGOMERY, AL. -- Colonial Bank Chairman and CEO Robert E. Lowder
announced today that Colonial Bank has issued $100 million of subordinated notes
which will qualify as Tier II Capital. The proceeds will be used for general
business purposes.
The 10-year offering of 8.00% fixed rate subordinated notes will pay
interest semi-annually commencing September 15, 1999. The notes were sold to
accredited investors in an offering in reliance on Section 3(a)(2) of the
Securities Act of 1933 as amended.
Colonial Bank is a subsidiary of Colonial BancGroup, a multi-state bank
holding company, headquartered in Montgomery, Alabama with assets of $10.5
billion operating over 250 offices in Alabama, Florida, Georgia, Nevada,
Tennessee and Texas. It is traded on the New York Stock Exchange under the
symbol CNB. In most newspapers the stock is listed as ColBgp.
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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 hereunto duly authorized.
THE COLONIAL BANCGROUP, INC.
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(Registrant)
Date: April 2, 1999 /s/ W. Flake Oakley
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W. Flake Oakley
Chief Financial Officer
