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COLTEC HOLDINGS EXECUTES SUPPLEMENTAL INDENTURE AND EXTENDS TENDER OFFER

COLTEC HOLDINGS EXECUTES SUPPLEMENTAL INDENTURE AND EXTENDS TENDER OFFER
 NEW YORK, March 5 /PRNewswire/ -- Coltec Holdings Inc. announced today that in connection with its previously announced tender offer and consent solicitation it had received tenders and consents from the holders of its 14-3/4 percent senior discount debentures due 2008 representing, as of midnight (New York time) on March 4, 1992, more than 67 percent of the aggregate principal amount at maturity of the outstanding discount debentures.
 In light of the receipt of the requisite number of consents to the proposed amendments to the discount debenture indenture, Coltec Holdings has entered into a supplemental indenture reflecting the amendments thereto. The terms of the supplemental indenture will not become operative until the discount debentures tendered in the tender offer are accepted for purchase and payment. However, pursuant to the terms of the tender offer and consent solicitation, tenders of the discount debentures and delivery of consents associated therewith became irrevocable upon the execution of the supplemental indenture.
 In addition, Coltec Holdings announced today that it is extending the tender offer for its discount debentures to 5 p.m. (New York time) on Friday, March 13, 1992. The tender offer shall be further extended in March to coincide with the closing of the pending public offerings by Coltec Industries Inc. a subsidiary of Coltec Holdings, of senior notes and senior subordinated notes, the proceeds of which will be used, together with bank financing, to fund the tender offer and consent solicitation. 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- 3/5/92
 /CONTACT: Michael Dunn of Coltec, 212-940-0523/ CO: Coltec Holdings Inc. ST: New York IN: SU:


SH-TS -- NY008 -- 5275 03/05/92 08:43 EST
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Publication:PR Newswire
Date:Mar 5, 1992
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