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DR PEPPER/SEVEN-UP COMPANIES, INC. REDEEMS $20,938,000 PRINCIPAL AMOUNT OF 11-1/2 PERCENT SENIOR SUBORDINATED DISCOUNT NOTES DUE 2002

 DALLAS, March 4 /PRNewswire/ -- Dr Pepper/Seven-Up Companies, Inc. (the company) has completed its initial public offering with the closing today, of the sale of 3,078,313 shares of its common stock to the underwriters for the offering (including 1,500,000 shares sold by a selling stockholder), pursuant to the exercise of the underwriters' over-allotment option. As contemplated in connection with its initial public offering, the company has used a portion of the proceeds of today's sale to reduce its outstanding bank debt and to call for redemption $20,938,000 principal amount of its 11-1/2 percent senior subordinated discount notes due 2002 (the "notes"). Notice of the redemption will be mailed today to the holders of the notes to be redeemed.
 The company will redeem $20,938,000 aggregate principal amount of the notes on April 2, 1993, at a redemption price of $641.08 per $1,000 principal amount of the Notes, which includes accrued interest from Nov. 1, 1992 through and including April 1, 1993 in the amount of $27.40 per $1,000 principal amount of the Notes. The company will use approximately $13,422,933 of the net proceeds of today's sale of common stock to effect the redemption of the notes. In accordance with the indenture pursuant to which the Notes were issued, the trustee will select the notes to be redeemed by lot. The redemption of these notes is in addition to the previously announced redemption of $173,340,000 aggregate principal amount of Notes on March 3, 1993 with other proceeds from the offering.
 -0- 3/4/93
 /CONTACT: Jim Ball, 214-360-7813, or Tom Bayer, 214-360-7817, both of Dr Pepper/Seven-Up Companies, Inc./
 (DPS)


CO: Dr Pepper/Seven-Up Companies, Inc. ST: Texas IN: FOD SU:

TS -- NY103 -- 3143 03/04/93 16:21 EST
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Publication:PR Newswire
Date:Mar 4, 1993
Words:305
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