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FIELDCREST CANNON FILES REGISTRATION STATEMENT RELATED TO OFFERINGS

 FIELDCREST CANNON FILES REGISTRATION STATEMENT RELATED TO OFFERINGS
 GREENSBORO, N.C., April 28 /PRNewswire/ -- Fieldcrest Cannon, Inc. (NYSE: FLD), announced today that it has filed registration statements related to a public offering of $85 million principal amount of senior subordinated debentures due 2004 and to a public offering of 1.5 million shares of the company's common stock. The senior subordinated debentures due 2004 will be offered through Kidder, Peabody & Co. and the common stock will be offered through underwriters led by Kidder, Peabody & Co. and Wheat First Butcher & Singer Capital Markets.
 The company expects to use the net proceeds from the two offerings to call for redemption of its outstanding 13-1/2 percent senior subordinated debentures due 2001 and for general corporate purposes. The offering of the senior subordinated debentures due 2004 is not contingent on the consummation of the offering of common stock, and vice versa.
 The company designs, manufactures and markets a broad range of home furnishing textile products. The company's bed and bath products, which accounted for 79 percent of the company's 1991 net sales, include towels, sheets, blankets, comforters and bath rugs, which are sold under such brand names as Fieldcrest, Royal Velvet, Charisma, St. Mary's, Cannon, Royal Family and Monticello. The company's carpet and rug products consist of high quality woven and tufted carpets and rugs marketed under the Karastan and Bigelow brand names.
 Registration statements relating to these securities have been filed with the Securities and Exchange Commission but have not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statements become effective. This press release shall 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 of qualification under the securities laws of any such state.
 A written prospectus relating to the common stock may be obtained from Kidder, Peabody & Co. Incorporated, 10 Hanover Square, New York, NY 10005 or Wheat First Butcher & Singer Capital Markets, 901 E. Byrd St., Richmond, VA 23219. A written prospectus relating to the senior subordinated debentures due 2004 may be obtained from Kidder, Peabody & Co. Incorporated, 10 Hanover Square, New York, NY 10005.
 -0- 4/28/92
 /CONTACT: K. W. Fraser Jr., senior vice president-finance of Fieldcrest Cannon, 919-665-4353/
 (FLD) CO: Fieldcrest Cannon, Inc. ST: North Carolina IN: TEX SU:


GK-SM -- NY043 -- 3685 04/28/92 10:49 EDT
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Publication:PR Newswire
Date:Apr 28, 1992
Words:425
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