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ANCHOR GLASS CONTAINER TO REDUCE INTEREST EXPENSE

 ANCHOR GLASS CONTAINER TO REDUCE INTEREST EXPENSE
 TAMPA, Fla., June 18 /PRNewswire/ -- Anchor Glass Container


Corporation, a subsidiary of Vitro, S.A. (NYSE: VTO), announced today that its interest expense should be reduced by approximately $3 million annually as a result of its issuance of $100,000,000 in aggregate principal amount of 10.25 percent senior notes due 2002. The senior notes were privately placed with institutional investors by Donaldson, Lufkin & Jenrette Securities Corporation.
 Anchor Glass has irrevocably instructed the trustees for its outstanding 10-3/4 percent subordinated sinking fund debentures due 1998 and 13-1/4 percent subordinated notes due 1995 to call those securities for redemption on July 20, 1992, and Dec. 15, 1992, respectively. The redemptions will be funded substantially with the proceeds from the sale of the senior notes.
 As a result of the refinancing the company will record an extraordinary charge of approximately $9.2 million (related to unamortized debt discounts and debt defeasance expenses).
 -0- 6/18/92
 /CONTACT: Robert A. Thompson of Anchor Glass Container Corporation 813-884-0000/
 (VTO) CO: Anchor Glass Container Corporation ST: Florida IN: SU:


LR -- NY068 -- 1637 06/18/92 16:18 EDT
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Publication:PR Newswire
Date:Jun 18, 1992
Words:193
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