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UNIROYAL CHEMICAL COMPANY, INC. $270 MILLION DEBT OFFERING BECOMES EFFECTIVE

 MIDDLEBURY, Conn., Aug. 26 /PRNewswire/ -- Uniroyal Chemical Company, Inc. announced today that the Registration Statement relating to its public offering of $270 million principal amount of its 9 percent Senior Notes due 2000 was declared effective today by the Securities and Exchange Commission. Morgan Stanley & Co. Incorporated is the underwriter of the offering.
 The proceeds of $270 million from the offering of the new notes is intended to be used to retire Uniroyal Chemical's Senior Secured Notes due 1997, which are comprised of $108 million principal amount of floating rate notes and $162 million principal amount of 12.22 percent notes. This offering follows the successful completion of a refinancing by Uniroyal Chemical's parent company, UCC Investors Holding, Inc. (now known as Uniroyal Chemical Corporation) in February 1993, pursuant to which UCC sold $750 million of its notes.
 Robert J. Mazaika, president and chief executive officer of Uniroyal Chemical, stated that the refinancing was intended to further improve the company's operating and financial flexibility and enhance its ability to pursue opportunities for growth by extending the maturity of a substantial portion of its debt and enhancing its liquidity.
 The closing of the sale of the new 5 percent Senior Notes is expected to occur on Sept. 2, 1993, at which time Uniroyal Chemical Company, Inc. intends to call for redemption all of its Senior Secured Notes due 1997. The closing of the sale of the new notes is subject to customary conditions.
 Uniroyal Chemical Company, Inc. is a specialty chemical company whose principal business lines include rubber chemicals, specialty chemical additives, elastomers, crop protection chemicals and urethane prepolymers.
 -0- 8/26/93 R
 /CONTACT: Robert Petrausch of Uniroyal Chemical Company, 203-573-2000/


CO: Uniroyal Chemical Company, Inc. ST: Connecticut IN: CHM SU: OFR

IH-KD -- DC022 -- 6483 08/27/93 08:46 EDT
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Publication:PR Newswire
Date:Aug 27, 1993
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