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AIRBORNE FREIGHT CORPORATION OFFERS $100 MILLION OF 10-YEAR 8-7/8 PERCENT SENIOR UNSECURED NOTES

 SEATTLE, Dec. 15 /PRNewswire/ -- Airborne Freight Corporation (NYSE: ABF) announced the offering of $100 million of 10-year notes priced yesterday at 99.469 percent to yield 8.956 percent. Cumulative interest will accrue at a rate per annum of 8-7/8 percent. Goldman, Sachs & Co. acted as underwriters for the offering. Net proceeds from the offering will be used by the company to reduce outstanding bank indebtedness.
 Airborne Express provides door-to-door express delivery of small packages and documents throughout the United States and to and from most foreign countries. The company also acts as an international and domestic freight forwarder for shipments of any size. A majority of the company's domestic shipments are transported on its own airline and fleet of ground transportation vehicles through its company-owned airport and central sorting facility in Wilmington, Ohio, or regional hubs. The company's principal operating strategy is to be the low cost provider of express services for high volume corporate customers.
 Copies of the prospectus relating to the offering can be obtained from the offices of Goldman, Sachs & Co., 85 Broad Street, New York, NY 10004, Attention: Donald T. Hansen.
 -0- 12/15/92
 /CONTACT: Roy C. Liljebeck, executive vice president and chief financial officer of Airborne Freight Corporation, 206-281-1003/
 (ABF)


CO: Airborne Freight Corporation ST: Washington IN: TRN SU: OFR

GK -- NY048 -- 7241 12/15/92 13:22 EST
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Publication:PR Newswire
Date:Dec 15, 1992
Words:227
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