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COMDISCO, INC. SELLS $75 MILLION OF PREFERRED STOCK

 COMDISCO, INC. SELLS $75 MILLION OF PREFERRED STOCK
 ROSEMONT, Ill., Sept. 18 /PRNewswire/ -- Comdisco, Inc. (NYSE: CDO)


announced that it has sold 3 million shares of 8.75 percent cumulative preferred stock, series A. The preferred stock issue was priced on Sept. 17, 1992, at $25 per share and is rated investment grade. The company has also called for redemption on Sept. 25, 1992, all of its non-investment grade 9.65 percent senior subordinated debentures due Nov. 1, 2002, currently outstanding in the approximate amount of $150 million. The debentures will be redeemed at 100.8 percent of their face amount plus accrued interest. Proceeds from the sale of the preferred stock, together with funds made available from the company's issuance, on Sept. 1, 1992, of $100 million of 7.75 percent senior notes will be used to finance the redemption.
 The company will incur a $25 million non-cash after tax extraordinary charge upon redemption of the debentures as a result of the call premium and from expensing the unamortized discount applicable to the 9.65 percent senior subordinated debentures. This will be reflected on the company's fourth quarter and year end financial statements. The company's fiscal year end is Sept. 30.
 Commenting on the refinancing, Kenneth N. Pontikes, chairman of the board and president, stated, "The financings that we have just completed, the redemption of our only non-investment grade debt and the sale of the preferred stock, improves our capital structure and demonstrates our versatility within the capital markets. We continue to diversify our funding sources and develop more efficient financing alternatives as we grow the business.
 Mr. Pontikes also stated that the corporate restructuring announced by the company on March 4, 1992, is proceeding as planned and that he anticipates the cost reduction and earnings targets for both the fourth quarter and fiscal year end should be met.
 Comdisco is one of the world's largest providers of solutions that help businesses acquire, manage, and protect their high-tech assets. Comdisco's common stock (CDO) is listed on the New York and Midwest Stock Exchanges.
 -0- 9/18/92
 /CONTACT: James J. Hyland of Comdisco, Inc., 708-698-3000/
 (CDO) CO: Comdisco, Inc. ST: Illinois IN: CPR SU:


KD-OS -- NY051 -- 1166 09/18/92 13:36 EDT
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Publication:PR Newswire
Date:Sep 18, 1992
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