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INTERMARK ELECTS NOT TO MAKE BOND SINKING FUND AND INTEREST PAYMENT

INTERMARK ELECTS NOT TO MAKE BOND SINKING FUND AND INTEREST PAYMENT
 LA JOLLA, Calif., Sept. 14 /PRNewswire/ -- Intermark Inc. (AMEX: IMI) announced today that it would not make the sinking fund payment of $1,500,000 due Sept. 14, 1992, on its series of 11 7/8 percent senior subordinated debentures due 1999. The purpose of the sinking fund payment is to retire a portion of the bond issue on Sept. 15, 1992. The company also stated that it would not make the $900,000 semi-annual interest payment on the 11 7/8 percent bonds which is due on Sept. 15, 1992.
 Intermark and its wholly owned subsidiary Triton Group Ltd. continue to negotiate with major bondholders in an effort to achieve a comprehensive restructuring of the companies. Triton did not make a scheduled June 30, 1992, interest payment on its 14 3/8 percent subordinated notes due 1995 and 14 5/8 percent subordinated debentures due 2000.
 -0- 9/14/92
 /CONTACT: John C. Stiska, president, or Michael M. Earley, senior VP and CFO, of Intermark, 619-456-1000/
 (IMI) CO: Intermark Inc.; Triton Group Ltd. ST: California IN: SU:


JL -- SD006 -- 9342 09/14/92 17:40 EDT
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Publication:PR Newswire
Date:Sep 14, 1992
Words:198
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