Facing the repayment of half a billion dollars of debt next week, MNC Financial Inc. saw its stock drop to is lowest point yesterday, falling 50 cents to $1.87 1/2 a share.
In early afternoon trading today, the price was $2, up 1/8 .
Besides its looming debt problem, analysts also blamed the decline on the continuing fallout from the takeover of Bank of New England on Sunday by the federal government.
Along with its stock, MNC's 9.375 percent subordinated capital notes, due in 1997, dropped 8 points to 21.
MNC is the parent company of Maryland National Bank and American Security Bank in Washington.
On Monday, MNC is due to pay $375 million of loan from a syndicate of banks headed by Morgan Guaranty Trust Co. of New York. The next day the bank holding company has to repay $271 million in notes.