SPRAGUE TECHNOLOGIES MAILS NOTICES OF REDEMPTION
SPRAGUE TECHNOLOGIES MAILS NOTICES OF REDEMPTION STAMFORD, Conn., Feb. 18 /PRNewswire/ -- Sprague Technologies, Inc.
(NYSE: SPG) announced today that in connection with the previously announced sale of its tantalum capacitor and U.S. thick film network businesses to Vishay Intertechnology, Inc. it was mailing notices of redemption today to holders of its outstanding 14 percent subordinated debentures due Jan. 15, 1998, and to holders of the Sprague Electric Company 4-1/4 percent convertible subordinated debentures due Oct. 1, 1992. The redemption date for both issues is March 19, 1992.
The redemption price of the 14 percent debentures of Sprague Technologies is 101 percent of the principal amount plus accrued interest to the redemption date, and the paying agent is Morgan Guaranty Trust Company of New York, 60 Wall St., New York City. The redemption price of the 4-1/4 percent debentures of Sprague Electric is 100 percent of the principal amount plus accrued interest to the redemption date, and the paying agent is the Bank of New York, One Wall St., New York City. Approximately $28 million of the sales proceeds are being applied to such redemptions. -0- 2/18/92 /CONTACT: R. Kevin Matz, assistant treasurer of Sprague Technologies, 203-964-8628/ (SPG) CO: Sprague Technologies, Inc. ST: Connecticut IN: SU:
CK-OS -- NY043 -- 9869 02/18/92 11:08 EST
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|Date:||Feb 18, 1992|
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