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Article: UNOCAL FILES REGISTRATION STATEMENT TO EXCHANGE NEW TRUST CONVERTIBLE PREFERRED SECURITIES FOR OUTSTANDING $3.50 CONVERTIBLE PREFERRED STOCK
- Article from:
- PR Newswire
- Article date:
- July 30, 1996
CopyrightCOPYRIGHT 1996 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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EL SEGUNDO, Calif., July 30 /PRNewswire/ -- Unocal Corporation (NYSE: UCL) today said it has filed a registration statement with the Securities and Exchange Commission to register Trust Convertible Preferred Securities of Unocal Capital Trust, a Delaware statutory business trust, to be offered in exchange for the outstanding shares of $3.50 Convertible Preferred Stock of Unocal.
The purpose of the exchange offer is to refinance the $3.50 Convertible Preferred Stock with the Trust Convertible Preferred Securities.
The conversion premium and annual distribution rate on the Trust Convertible Preferred Securities will be set when the exchange offer commences ...