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COMMERCIAL METALS COMPANY COMPLETES $50 MILLION FINANCING

     COMMERCIAL METALS COMPANY COMPLETES $50 MILLION FINANCING
    DALLAS, Dec. 18 /PRNewswire/ -- Commercial Metals Company (NYSE: CMC) announced today that it had completed a $50 million private placement with three institutional lenders.  The notes carry a fixed interest rate of 8.49 percent and provide for annual principal repayments beginning in 1995 and continuing through 2001.  Continental Bank N.A. in Chicago was the agent for this transaction.
    According to Commercial Metals Company President and Chief Executive Officer Stanley A. Rabin, "The $50 million loan will extend the average maturity of our debt.  Proceeds will be used to pay down existing short- term borrowing and for working capital, capital expenditures and other corporate purposes including possible acquisitions that may be considered from time to time."  Rabin said, "We believe this is a very attractive long-term financing package for the company.  The company's long-term debt to capitalization ratio remains conservative at about 31 percent."
    Commercial Metals Company and subsidiaries manufacture, recycle and market steel and metal products, related materials and services through a network of over 70 locations including steel minimills, steel fabrication plants, a copper tube mill, recycling facilities and trading offices in the United States and trading and representative offices in strategic overseas markets.
    -0-         12/18/91
    /CONTACT:  Bob Davis of Commercial Metals, 214-689-4354/
    (CMC) CO:  Commercial Metals Company ST:  Texas IN:  MNG SU:  FNC SH -- NY063 -- 3516 12/18/91 15:25 EST
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Publication:PR Newswire
Date:Dec 18, 1991
Words:235
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