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RIVERWOOD INTERNATIONAL COMPLETES SALE OF $125 MILLION OF CONVERTIBLE SUBORDINATED NOTES

 ATLANTA, Sept. 20 /PRNewswire/ -- Riverwood International Corp. (NYSE: RVW) announced that on Sept. 17, 1993 it completed the sale of $125 million of 6.75 percent 10-year convertible subordinated notes. Riverwood also completed the concurrent sale of $50 million of common stock to Manville Corp. (NYSE: MVL), Riverwood's majority owner, at a price of $14.50 per share. Riverwood expects to receive net proceeds of $145.6 million from these transactions after the expenses of the offering and the repayment of $25 million of debt to Manville. The sales of the convertible notes and common stock were made in transactions exempt from the registration requirements of federal and state securities laws.
 Riverwood International is a global paperboard, packaging and packaging machinery company headquartered in Atlanta with 1992 annual sales of $1.1 billion, assets of $1.9 billion and 8,500 employees worldwide.
 -0- 9/20/93
 /CONTACT: Jim Caverlee (Financial), 404-644-3023; or Jonna Manes, (Media), 404-644-3014, both of Riverwood International/
 (RVW MVL)


CO: Riverwood International Corp.; Manville Corp. ST: Georgia, Colorado IN: PAP CST SU:

BB -- DV002 -- 3411 09/20/93 06:01 EDT
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Publication:PR Newswire
Date:Sep 20, 1993
Words:185
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