Printer Friendly

COMMODORE INTERNATIONAL ANNOUNCES AGREEMENT WITH PRUDENTIAL INSURANCE

 NEW YORK, March 1 /PRNewswire/ -- Commodore International Limited (NYSE: CBU) announced today an agreement with The Prudential Insurance Company of America to issue $16 million in new senior notes in retirement of an equal amount of subordinated notes.
 Under an agreement in principle, subject to negotiation of final terms and conditions, $8 million, which was due on March 1, will be due for repayment on Dec. 31, 1993, and the remaining $8 million will be due on March 1, 1994. The company and Prudential also agreed in principle to extend a March 1, $5 million senior note repayment to Dec. 31, 1993. In addition, the company paid as scheduled the remaining $12.5 million Senior Note maturities due today to Prudential and another lender.
 /delval/
 -0- 3/1/93
 /CONTACT: Ronald B. Alexander, chief financial officer and secretary of Commodore International Limited, 215-431-9100/
 (CBU)


CO: Commodore International Limited; The Prudential Insurance Company of
 America ST: Pennsylvania IN: CPR SU:


MJ-CC -- PH031 -- 1637 03/01/93 17:23 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 1, 1993
Words:168
Previous Article:LARGEST IN COUNTRY: KEYSTONE HEALTH PLAN EAST TOPS 120,000 MEDICAID ENROLLEES
Next Article:PECO SETS EMPLOYEE ELECTION FOR NO UNION OR UNION
Topics:


Related Articles
GLOBAL NATURAL RESOURCES AND PRUDENTIAL INSURANCE COMPANY REACH AGREEMENT
COMMODORE ANNOUNCES SETTLEMENT OF IRS CASE
MERISEL SIGNS SOLE NATIONAL AGREEMENT WITH COMMODORE TO DISTRIBUTE MULTIMEDIA PC LINE
COMMODORE AND MERISEL ANNOUNCE U.S. DISTRIBUTION AGREEMENT
COMMODORE INTERNATIONAL ANNOUNCES REPAID LOAN TO PRUDENTIAL
COMMODORE INTERNATIONAL LIMITED REACHES AGREEMENT WITH PRUDENTIAL INSURANCE COMPANY OF AMERICA AND ANOTHER INSTITUTIONAL LENDER
PRUDENTIAL PLACED UNDER REVIEW BY A.M. BEST COMPANY
PRUDENTIAL AND WAUSAU TO JOIN FORCES TO OFFER MANAGED CARE AND INSURANCE SERVICES TO WORKERS' COMPENSATION MARKET
PRUHOME, SASI RATINGS UNAFFECTED BY NORWEST SALE, FITCH SAYS -- FITCH FINANCIAL WIRE --
CAREMARK-AFFILIATED CLINIC SIGNS AGREEMENT WITH PRUDENTIAL

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters