|
|
Article: American Standard Companies Inc. Announces Cash Tender Offer For 10-7/8% Senior Notes Due 1999
- Article from:
- PR Newswire
- Article date:
- May 29, 1997
CopyrightCOPYRIGHT 1997 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)
|
PISCATAWAY, N.J., May 29 /PRNewswire/ -- American Standard Companies Inc. (NYSE: ASD) today announced the commencement by its wholly owned subsidiary, American Standard Inc. ("ASI"), of a cash tender offer for the $150 million outstanding principal amount of ASI's 10-7/8% Senior Notes due 1999.
The purchase price to be paid for each tendered Note will be based on a fixed spread of 75 basis points over the yield on the pricing date of the 6-3/8% U.S. Treasury Notes due May 15, 1999 (the "Benchmark Treasury Note"), less a consent payment of $5.00 per $1,000 in Note principal, plus accrued and unpaid interest. The pricing date for the offer will be June 20, ...