AMERICAN STORES CO. ANNOUNCES MEDIUM-NOTES PROGRAM
AMERICAN STORES CO. ANNOUNCES MEDIUM-NOTES PROGRAM SALT LAKE CITY, Dec. 13 /PRNewswire/ -- American Stores Co.
(NYSE: ASC) today announced the commencement of a program for up to $300,000,000 of its medium term notes, series A. The medium-term notes will be offered under a registration statement filed in July 1991 relating to $500 million of debt securities. The company anticipates offering the notes in smaller increments from time to time.
The company intends to use the proceeds from the sale of the notes to reduce bank borrowings, which will make more of the company's cash flow available for capital expenditures and working capital. Lehman Brothers, Merrill Lynch & Co. and J.P. Morgan Securities Inc. are the agents for the medium-term notes program. American Stores Co.'s principal grocery and combination store operating subsidiaries include Acme Markets Inc., Jewel Food Stores Inc., Star Market, Jewel Osco Southwest, Jewel Osco Florida and Lucky Stores Inc. The American Stores Co.'s drug subsidiary, American Drug Stores Inc., operates under the Osco Drug and Sav-on names. At Nov. 2, 1991, the company's grocery and combination store subsidiaries operated 1,021 stores. The company's drug store subsidiary, American Drug Stores, operated the drug side of 225 of the combination stores and 478 stand-alone stores. -0- 12/13/91 /CONTACT: Cal Drecksel, (investors), or Troy D'Ambrosio, (media), 801-539-0112, both of American Stores/ (ASC) CO: American Stores Co. ST: Utah IN: SU:
SE-KJ -- LA003 -- 2222 12/13/91 06:00 EST
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|Date:||Dec 13, 1991|
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