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DELTA AIR LINES FILES 15 MILLION DEPOSITARY SHARES

 DELTA AIR LINES FILES 15 MILLION DEPOSITARY SHARES
 ATLANTA, June 1 /PRNewswire/ -- Delta Air Lines, Inc. (NYSE: DAL) announced today a proposed public offering of 15 million Depositary Shares, each share representing 1/1,000 of a share of Series C Convertible Preferred Stock with liquidation preference equivalent to $50 per Depositary Share.
 Each Depositary Share will entitle the holder to proportional rights and preferences of the Series C Preferred Stock, including dividend, voting, conversion, redemption and liquidation rights and preferences. Of the shares to be sold, 13,500,000 shares will be offered in the United States, and 1,500,000 shares will be offered in a concurrent international offering outside the United States. Goldman, Sachs & Co. and Merrill Lynch & Co. will be co-managers of the United States offering, and Goldman Sachs International Limited and Merrill Lynch International Limited will be co-managers of the international offering.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may any offers to buy be accepted prior to the time the registration statement becomes effective. Delta's announcement does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A written prospectus regarding the offering may be obtained from Goldman, Sachs & Co. at 85 Broad Street, New York, N.Y. 10004 or from Merrill Lynch & Co. at 250 Vesey Street, New York, N.Y. 10281.
 -0- 6/1/92
 /CONTACT: Delta Air Lines public relations, 404-715-2533/
 (DAL) CO: Delta Air Lines, Inc. ST: Georgia IN: AIR SU: OFR


EA-BN -- AT011 -- 5883 06/01/92 16:29 EDT
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Publication:PR Newswire
Date:Jun 1, 1992
Words:312
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