MNC pays loans

January 15, 1991

MNC Financial Inc. said it will be able to pay $271 million in notes due today by borrowing the money from its subsidiary banks, Maryland National and American Security.

The bank-holding company also said it has repaid $375 million to a syndicate of banks headed by Morgan Guaranty Trust Co. of New York.

MNC plans an initial public offering of stock in MBNA Corp., a spin-off of MNC's credit-card subsidiary.

Story on Page C1.

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