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EXIDE CORPORATION FILES REGISTRATION STATEMENT FOR $150M SENIOR NOTES AND $110M PRINCIPAL AMOUNT OF SUBORDINATED DEFERRED COUPON DEBENTURES

 EXIDE CORPORATION FILES REGISTRATION STATEMENT FOR $150M SENIOR NOTES
 AND $110M PRINCIPAL AMOUNT OF SUBORDINATED DEFERRED COUPON DEBENTURES
 READING, Pa., Oct. 26 /PRNewswire/ -- Exide Corporation filed a registration statement for $150 million of senior unsecured notes due 2002 and $110 million principal amount of subordinated deferred coupon debentures due 2004.
 The net proceeds from the notes and debentures will be used to redeem all of its outstanding 12-7/8 percent senior subordinated notes due 1997, repurchase all the outstanding shares of Series B and Series C preferred stock and shares of Series D preferred stock held by holders of Series B preferred stock at a discount to liquidation value and prepay indebtedness under the term loan and standby loan facilities under its bank credit agreement. The remaining net proceeds will be used for general corporate purposes including working capital.
 Management believes the redemption of the 12-7/8 percent senior subordinated notes, the repurchase of the preferred stock and the prepayment of indebtedness under the bank credit agreement will provide additional financial and operating flexibility and provide important benefits to the company.
 Morgan Stanley & Co. Incorporated and Alex. Brown & Sons Incorporated will co-manage the offering.
 Exide Corporation, together with its affiliates, is the leading manufacturer and marketer of lead acid batteries in the United States and Canada, with approximately a 30 percent market share in units. The company believes it is the lowest cost major lead acid battery producer in the United States and Canada. Exide and its affiliates produce starting, lighting and ignition batteries primarily for automobiles and commercial applications, including trucks, farm equipment, tractors and other off-road vehicles, and specialty batteries for marine and garden tractor applications, motorcycles, golf carts and wheelchairs, and also offer battery chargers and a full line of battery accessories. The company manufactures and sells batteries under various trade names and registered marks including "Exide," "Willard" and "Prestolite."
 -0- 10/26/92
 /CONTACT: Alan Gauthier, vice president-finance of Exide Corporation, 215-378-0675/ CO: Exide Corporation ST: Pennsylvania IN: AUT SU: OFR


TS -- NY024 -- 4597 10/26/92 09:24 EST
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Publication:PR Newswire
Date:Oct 26, 1992
Words:344
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