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FEDERAL-MOGUL REPORTS $80 MILLION PRIVATE ISSUE OF CONVERTIBLE EXCHANGEABLE PREFERRED STOCK

 FEDERAL-MOGUL REPORTS $80 MILLION PRIVATE ISSUE
 OF CONVERTIBLE EXCHANGEABLE PREFERRED STOCK
 SOUTHFIELD, Mich., Sept. 24 /PRNewswire/ -- Federal-Mogul Corporation (NYSE: FMO) reported today that it had completed an $80 million private issue of 1,600,000 shares of its $3.875 Series D convertible exchangeable preferred stock. Sold to institutional investors, the stock has a liquidation preference of $50.
 The shares are convertible into Federal-Mogul's common stock at a conversion price of $18 per share of Federal-Mogul's common stock.
 Federal-Mogul plans to use the net proceeds to finance a portion of the purchase price of its proposed acquisition of TRW, Inc.'s automotive aftermarket business, which is expected to close at the end of October 1992.
 The preferred shares were sold in a private placement and may not be resold except in accordance with an exemption from the registration requirements of the Securities Act.
 -0- 9/24/92
 /CONTACT: Peggy Brewer of Federal-Mogul Corporation, 313-354-2685/
 (FMO) CO: Federal-Mogul Corporation ST: Michigan IN: AUT SU:


JG -- DE025 -- 3284 09/24/92 16:36 EDT
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Publication:PR Newswire
Date:Sep 24, 1992
Words:172
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