ASARCO ANNOUNCES DEBT OFFERING.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , N.Y., April 21, 1995--(BUSINESS WIRE)--ASARCO Incorporated (NYSE NYSE See: New York Stock Exchange :AR) announced the sale of $150 million of 8.5% debentures due May 1, 2025. The sale was made under Asarco's universal shelf registration statement filed with the U.S. Securities and Exchange Commission in October, 1994 for up to $300 million of securities. The debentures, which were priced at 99.25% of par to yield 8.57%, are being underwritten by CS First Boston. Asarco intends to use the proceeds to repay, in part, revolving credit bank borrowings. Borrowings under the Company's revolving credit agreements were used to purchase an additional 10.7% interest in Southern Peru Copper Corporation (SPCC SPCC abbr. Society for the Prevention of Cruelty to Children SPCC (US) n abbr (= Society for the Prevention of Cruelty to Children) → Kinderschutzbund m ) on April 5, 1995. The purchase, at a cost of $116.4 million, increased Asarco's interest in SPCC from 52.3% to 63%. ASARCO Incorporated, headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , is one of the world's leading integrated producers of nonferrous metals, principally copper, lead, zinc, and silver. Asarco also produces specialty chemicals, minerals and other industrial products and provides environmental services. CONTACT: Jerry W. Cooper Jerry W. Cooper (born August 6, 1948 in McMinnville) is a Tennessee Democrat politician and a member of the Tennessee Senate for the 14th district, which encompasses Franklin, Bledsoe, Coffee, Grundy, Sequatchie, Van Buren, and Warren counties. , Corporate Communications ASARCO Incorporated. 212-510-1810 |
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