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BORG-WARNER SECURITY OFFERS $150 MILLION OF DEBT SECURITIES

 CHICAGO, April 26 /PRNewswire/ -- Borg-Warner Security Corp. (NYSE: BOR) today announced the offering of $150 million of 9-1/8 percent senior subordinated notes due 2003 at a price of $99.194 per $100.00 principal amount, effectively yielding 9-1/4 percent. Merrill Lynch & Co. is the underwriter for the notes, which will be traded on the New York Stock Exchange.
 Net proceeds from the sale of the notes will be used to redeem on July 15, 1993 $150 million principal amount of the company's 13 percent junior subordinated discount debentures due 2007 at a redemption price of 102.5 percent of their principal amount plus accrued interest.
 Chicago-based Borg-Warner Security Corp. is the largest, broadest- based supplier of security services in the United States. The company provides guard, alarm, armored transportation and courier services under the Wells Fargo, Burns and Pony Express names.
 -0- 4/26/93
 /CONTACT: Joseph C. Allen of Borg-Warner Security, 312-322-8836/
 (BOR)


CO: Borg-Warner Security Corp. ST: Illinois IN: SU: OFR

KD -- NY033 -- 0540 04/26/93 10:09 EDT
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Publication:PR Newswire
Date:Apr 26, 1993
Words:174
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