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IDB COMMUNICATIONS GROUP PRICES CONVERTIBLE DEBT OFFERING

 LOS ANGELES, Aug. 13 /PRNewswire/ -- IDB Communications Group Inc. (NASDAQ: IDBX) today announced it has priced its public offering of 5 percent convertible subordinated notes due 2003. The principal amount of the offering is $170 million with an overallotment option of 15 percent, or $25.5 million. The notes will be convertible into IDB common stock at a price per share of $57.1875. The notes are listed on NASDAQ under the symbol "IDBXG."
 Approximately $80 million of the net proceeds from the offering will be used to repay all of IDB's present outstanding senior indebtedness and the remaining proceeds will be used for working capital and other general corporate purposes, including potential acquisitions.
 IDB Communications Group Inc. is a global telecommunications company that operates a domestic and international communications network providing its customers with radio and television transmission services, international private-line and long distance telephone services, facsimile and data connections, mobile satellite communications capabilities and the design and integration of satellite networks worldwide.
 -0- 8/13/93
 /CONTACT: Ken Dennard, 415-296-7383, or Miriam Adler, 212-850-5600, both of Morgen-Walke for IDB Communications/
 (IDBX)


CO: IDB Communications Group Inc. ST: California IN: TLS SU: OFR

TM-LH -- SF014 -- 2663 08/13/93 15:38 EDT
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Publication:PR Newswire
Date:Aug 13, 1993
Words:203
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