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KAISER ALUMINUM & CHEMICAL CORP. REGISTRATION STATEMENT DECLARED EFFECTIVE; COMPANY EXTENDS TENDER OFFER

 HOUSTON, Jan. 22 /PRNewswire/ -- Kaiser Aluminum & Chemical Corp. (KACC), the operating subsidiary of Kaiser Aluminum Corp. (KAC), (NYSE: KLU) announced today that its registration statement relating to a new issue of $400 million of 12-3/4 percent Senior Subordinated Notes due 2003, was declared effective by the Securities and Exchange Commission. The Notes are priced at 100 percent of their principal amount.
 Proceeds from the offering will be used to complete KACC's tender offer for its 14-1/4 percent Senior Subordinated Notes due 1995, to retire any 14-1/4 percent Notes that remain outstanding after the consummation of the tender offer, to prepay a portion of KACC's bank term loan, and for general corporate purposes.
 KACC also announced that it has extended the expiration date of the tender offer for its 14-1/4 percent Notes to 4 p.m. New York City time, on Feb. 1, 1993. The previous expiration date had been Jan. 26, 1993.
 Merrill Lynch & Co., The First Boston Corp. and PaineWebber Inc. are underwriters for the new offering and dealer managers for the tender offer.
 KACC is one of the world's leading producers of alumina, primary aluminum, and fabricated aluminum products. It is a wholly owned subsidiary of KAC. MAXXAM Inc. (AMEX: MXM) owns 87.2 percent of the common stock of KAC.
 -0- 1/22/93
 /CONTACT: Scott Lamb of Kaiser Aluminum, 713-267-3826/
 (KLU MXM)


CO: Kaiser Aluminum Corp.; MAXXAM Inc.; Kaiser Aluminum & Chemical
 Corp. ST: Texas, California IN: MNG SU: OFR


TM -- SF002 -- 7901 01/22/93 12:15 EST
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Publication:PR Newswire
Date:Jan 22, 1993
Words:256
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