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COLTEC HOLDINGS ANNOUNCES EXTENSION OF ITS TENDER OFFER

 COLTEC HOLDINGS ANNOUNCES EXTENSION OF ITS TENDER OFFER
 NEW YORK, March 31 /PRNewswire/ -- Coltec Holdings Inc. announced


the extension of the expiration time of its cash tender offer for all of its outstanding 14-3/4 percent senior discount debentures due 2008 to 10:00 a.m. ( New York City time) on Wednesday, April 1, 1992, to coincide with the anticipated closing of the pending public offerings by Coltec Industries Inc., a subsidiary of Coltec Holdings, of senior notes and senior subordinated notes. The proceeds from the offering will be used, together with bank financing, to fund the tender offer and consent solicitation.
 Coltec Holdings also announced today that it has received tenders from the holders of its discount debentures representing as of 5:00 p.m. (New York City time) on Monday, March 30, 1992, more than 68 percent of the aggregate principal amount at maturity of the outstanding discount debentures.
 Except for the extension of the tender offer period reflected herein, all other terms and conditions of the tender offer and consent solicitation remain as previously announced.
 Morgan Stanley & Co. Incorporated and BT Securities Corporation are the dealer managers for the tender offer and consent solicitation.
 -0- 3/31/92
 /CONTACT: Michael Dunn of Coltec Holdings, 212-940-0523/ CO: Coltec Holdings Inc. ST: New York IN: SU: OFR


SH-SM -- NY014 -- 3222 03/31/92 08:26 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Mar 31, 1992
Words:227
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