Printer Friendly

E.M. WARBURG, PINCUS ANNOUNCES EXTENSION OF OFFERS

 NEW YORK, Nov. 30 ~PRNewswire~ -- E.M. Warburg, Pincus & Co., Inc. announced today that two of its venture banking fund affiliates have extended their tender offers for any and all of the senior secured and subordinated debt of Journal Company, Inc. ("JCI") that they do not currently own. As extended, the offers are scheduled to expire at 5:00 p.m. on Monday, Dec. 7, 1992. Withdrawal rights under the offers expired at 5:00 p.m. on Thursday, Nov. 12, 1992, and have not been extended.
 The financial terms of the offers remain the same. Pursuant to the offers, Warburg is offering to purchase JCI senior secured and subordinated bonds at the following prices:
 Face Amount
 not Owned Price
 by Warburg per Bond
 ($ millions) (pct face value)
 14-5~8 pct Senior Subordinated $32.2 98.0 pct
 Debentures due 2000
 14.825 pct Subordinated Debentures 22.3 88.0 pct
 due 2000
 11-7~8 pct Senior Subordinated 20.1 86.6 pct
 Debentures due 1999
 7-1~2 pct Senior Secured Notes 22.4 82.1 pct
 due 1996
 12-1~8 pct Subordinated Debentures 18.5 76.5 pct
 due 2000
 Warburg will pay accrued interest on securities purchased under the offers from the last scheduled interest payment date. Record holders of the 14-5~8 percent debentures and the 14.825 percent debentures as of Oct. 15, 1992, are entitled to receive the interest payment due on Nov. 1, 1992, directly from JCI; accordingly, Warburg will not make any payments with respect to such interest on the 14-5~8 percent and 14.825 percent debentures tendered pursuant to the offers.
 Warburg said that as of 5:00 p.m. on Monday, Nov. 30, 1992, the previously scheduled expiration date of the offers, approximately $2 million principal amount of JCI senior secured and subordinated debt had been tendered and not withdrawn.
 The dealer manager for the offers is Greycliff Partners, Ltd. and the depositary is Ameritrust Texas National Association.
 -0- 11~30~92
 ~CONTACT: Mikael Salovaara of Warburg, 212-841-0400~


CO: E.M. Warburg, Pincus & Co., Inc.; Journal Company, Inc. ST: New York IN: FIN SU: OFR

KD -- NY077 -- 2114 11~30~92 17:34 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 30, 1992
Words:364
Previous Article:R.R. DONNELLEY NAMES TRUBIANA VICE PRESIDENT
Next Article:DELMARVA POWER NAMES JOSEPH P. FARLEY SR. NEW MANAGER OF CORPORATE RELATIONS
Topics:


Related Articles
WARBURG, PINCUS PARTNERSHIP TO DISTRIBUTE BABBAGE'S STOCK TO ITS PARTNERS
WARBURG PINCUS ANNOUNCES PURCHASE OF JCI DEBENTURES
/C O R R E C T I O N -- E.M. WARBURG PINCUS AND CO. INC./
COMCAST ANNOUNCES WARBURG, PINCUS AND BANKERS TRUST INVESTMENT IN UNITED KINGDOM CABLE AND TELEPHONY BUSINESS
E. M. WARBURG, PINCUS & CO. AFFILIATES EXTEND OFFERS
E.M. WARBURG, PINCUS & CO. VENTURE BANKING FUND AFFILIATES EXTEND TENDER OFFERS FOR JOURNAL COMPANY DEBT
THE TIMEI?NVEST IN E?RGING GROWTH STOCKS IS NOW; POLICIES TO SPUR JOB CREATION SHOULD BE FAVORABLE TO EMERGING GROWTH STOCKS, EXPERT SAYS
WARBURG, PINCUS SELLS SOME MAGMA STOCK ACQUIRED IN OPEN MARKET; INTENDS TO RETAIN ORIGINAL INVESTMENT AS A CORE HOLDING
Warburg, Pincus Equity Partners Closes $5 Billion Private Equity Fund.
Brandywine Senior Care Acquired by Warburg Pincus.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters