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WISCONSIN CENTRAL REPAYS NOTES, DEBT TOTALING $33.3 MILLION

 ROSEMONT, Ill., March 8 /PRNewswire/ -- Wisconsin Central Transportation Corporation (NASDAQ-NMS: WCLX) (WCTC) said it has used cash from its December 1992 public offering to repay $20 million in 13 percent fixed-rate subordinated notes and to retire an additional $13.3 million of other debt bearing an average interest rate of 4.625 percent.
 Early extinguishment of the subordinated notes incurred a prepayment penalty of $1,300,000 and the company will write off $991,000 of non- cash deferred financing costs. This will result in an extraordinary charge to income of $1,398,000, net of income taxes, or 17 cents per share in the first quarter of 1993. There was no prepayment penalty or write-off of deferred financing costs applicable to the other debt retirement.
 Thomas Power, WCTC executive vice president and chief financial officer, said "This temporarily reduces our overall debt until we complete the pending acquisitions of the rail operating assets of the Fox River Valley Railroad Corporation and the Green Bay and Western Railroad Company." He said these acquisitions are to be financed with a combination of cash on hand and new debt. "At current interest rates," he said "the new debt would bear a floating rate of approximately 4.25 percent annually, which is lower than the subordinated notes and other debt that were repaid."
 Wisconsin Central Transportation Corporation shares are traded on the NASDAQ National Market System under the symbol WCLX. WCTC is the owner of the Chicago-based Wisconsin Central Ltd. -- the largest regional railroad in the United States -- providing freight service on more than 2,000 miles of track in Wisconsin, the/8/93
 /CONTACT: Tom Power, executive VP of Wisconsin Central, 708-318-4600/
 (WCLX)


CO: Wisconsin Central Transporation ST: Illinois IN: TRN SU:

DS -- MN002 -- 3904 03/08/93 10:25 EST
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Publication:PR Newswire
Date:Mar 8, 1993
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