Printer Friendly

JAMES RIVER COMPLETES $400 MILLION PUBLIC OFFERING

 RICHMOND, Va., Nov. 23 /PRNewswire/ -- James River Corporation (NYSE: JR) announced today that it has completed public offerings of $250 million of 6.70 percent Notes due November 15, 2003, and $150 million of 7 percent Debentures due November 15, 2023. The Notes were issued to the public at a price of $997.75 per $1,000 principal amount to yield 6.731 percent. The Debentures were issued to the public at a price of $997.89 per $1,000 principal amount to yield 7.768 percent. The offerings were managed by Salomon Brothers Inc, Merrill Lynch & Co., and J.P. Morgan Securities, Inc. Approximately $100 million of the net proceeds from these offerings will be applied toward James River's purchase of the remaining ownership interest in Diamond Occidental Forest Inc. The remaining net proceeds from the offerings of the Notes and Debentures are being used to repay a portion of the company's short-term borrowings.
 James River Corporation, headquartered in Richmond, Virginia, is a marketer and manufacturer of consumer products, food and consumer packaging, and communications papers. These product lines include brands such as Quilted Northern(R) bathroom tissue, Brawny paper towels, Dixie(R) cups and plates, Eureka!(TM) recycled copy paper, Quilt-Rap(TM) sandwich wrap, and Qwik Crisp(R) microwave packaging. For the year which ended on December 27, 1992, the company had sales of $4.7 billion.
 -0- 11/23/93
 /CONTACT: Celeste Gunter of James River, 804-649-4307/
 (JR)


CO: James River Corporation ST: Virginia IN: PAP CHM SU: OFR

DC-MH -- DC026 -- 7333 11/23/93 14:29 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 23, 1993
Words:261
Previous Article:ROBERT W. CLARK RESIGNS FROM MERIDIAN INSURANCE GROUP
Next Article:WAVEMAT INC. REPORTS RESULTS FOR ITS THIRD QUARTER AND NINE MONTHS ENDED SEPT. 30, 1993
Topics:

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