Printer Friendly

LTV RECEIVES PROCEEDS FROM EARLY REDEMPTION OF REPUBLIC ENGINEERED STEEL DEBENTURES

 CLEVELAND, Dec. 30 /PRNewswire/ -- The LTV Corporation (NYSE: LTV) announced today that Republic Engineered Steels, Inc. ("Republic") has redeemed, for approximately $59 million, the entire series of Republic 15-1/2% Subordinated (Pay-in-Kind) Debentures that were issued to LTV in connection with Republic's 1989 purchase of LTV Steel's bar business.
 Pursuant to LTV's agreements with the Pension Benefit Guaranty Corporation, the entire $59 million will be contributed to LTV's pension plans. LTV will recognize a special credit of approximately $30 million in connection with this transaction during the fourth quarter of 1993.
 -0- 12/30/93
 /CONTACT: Eric W. Evans of The LTV Corporation, 216-622-5680/
 (LTV)


CO: The LTV Corporation ST: Ohio IN: MNG SU:

BM-KL -- CL011 -- 8082 12/30/93 14:02 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:Dec 30, 1993
Words:123
Previous Article:POST PROPERTIES ENTERS GROUND LEASE WITH CITY OF ATLANTA
Next Article:NOVEMBER MUTUAL FUND SALES TOTAL $42.1 BILLION, INVESTMENT COMPANY INSTITUTE REPORTS
Topics:

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