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ZENITH ANNOUNCES ADDITIONAL SALE OF 8-1/2% DEBENTURES, WILL REDEEM 12-1/8% NOTES

 GLENVIEW, Ill., Jan. 12 /PRNewswire/ -- Zenith Electronics Corp. (NYSE: ZE) today announced the private sale of $12 million of 8-1/2% senior subordinated convertible debentures to institutional investors.
 The debentures, due Jan. 18, 2001, are convertible into shares of common stock at a conversion price of $10 per share.
 The consumer electronics and cable products company said the new sale brings to $67 million the amount of cash raised through the completion of this financing program. In November, Zenith announced sales of $55 million of convertible debentures to institutional investors.
 On Jan. 13, Zenith will redeem its 12-1/8% Notes due Jan. 15, 1995. The redemption price is par value, totaling $34.5 million, plus accrued interest. Zenith said it will redeem the Notes using a portion of the cash raised from the debenture sales. The remainder of the proceeds will be used to increase the cash resources available to the company.
 -0- 1/12/94
 /CONTACT: John Taylor, 708-391-8181, or (Investors) Bill McNitt, 708-391-7713, both of Zenith Electronics/
 (ZE)


CO: Zenith Electronics Corp. ST: Illinois IN: CPR SU: OFR

JG -- NY016 -- 1305 01/12/94 09:29 EST
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Publication:PR Newswire
Date:Jan 12, 1994
Words:189
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