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Article: NORTHERN TELECOM ANNOUNCES DEBT OFFERING
- Article from:
- PR Newswire
- Article date:
- September 2, 1993
CopyrightCOPYRIGHT 1993 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TORONTO, Sept. 2 /PRNewswire/ -- Northern Telecom (NYSE: NT) announced today an offering of US$400 million of notes in the United States. The issue consists of US$200 million 6 percent notes, which mature on Sept. 1, 2003 and US$200 million 6-7/8 percent notes, which mature on Sept. 1, 2023. The notes will be issued at 99.509 percent and 98.71 percent of par, respectively.
The securities are being offered pursuant to Northern Telecom's shelf registration statement filed with the United States Securities and Exchange Commission. Northern Telecom will use the proceeds from the issue to repay maturing obligations, to refinance existing short-term debt and for general ...