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CHESAPEAKE ANNOUNCES $85 MILLION DEBENTURE OFFERING

 RICHMOND, Va., March 3 /PRNewswire/ -- Chesapeake Corporation (NYSE: CSK) announced today the offering of $85 million principal amount of its 7.2 percent debentures due March 15, 2005, through Salomon Brothers Inc, Goldman, Sachs & Co. and Wheat First Butcher & Singer Capital Markets.
 The proceeds from the sale of these debentures will be used to redeem the $50 million outstanding principal balance of the company's 9.375 percent notes due March 15, 1996, which are redeemable at par on March 15, 1993, and to reduce outstanding bank credit line borrowings incurred primarily to finance capital improvements at company facilities.
 Copies of the prospectus and related prospectus supplement with respect to the announced offering may be obtained from Salomon Brothers Inc and Goldman, Sachs & Co. in New York and from Wheat First Butcher & Singer Capital Markets in Richmond.
 Chesapeake Corporation, a Fortune 500 company headquartered in Richmond, is a paper and packaging company. Chesapeake's primary businesses are tissue and kraft paper products and packaging. Other businesses include consumer tissue products, land development and wood products.
 -0- 3/3/93
 /CONTACT: Louis K. Matherne, treasurer, Chesapeake Corporation, 804-697-1122/
 (CSK)


CO: Chesapeake Corporation ST: Virginia IN: PAP SU: OFR

DC -- DC019 -- 2602 03/03/93 15:58 EST
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Publication:PR Newswire
Date:Mar 3, 1993
Words:204
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