Printer Friendly

HANSON LAUNCHES TWO NEW COMMERCIAL PAPER PROGRAMS

 NEW YORK, Nov. 15 /PRNewswire/ -- Hanson Industries, the US arm of Hanson PLC (NYSE: HAN) announced today that two new commercial paper programs have been established, one for $2 billion in the European market, through Hanson Finance PLC, and the other for AUS$400mn through Peabody Australia Holdings Limited. Drawings under the Australian facility will reduce the amount available to be drawn under the European program. Hanson PLC guarantees these issues as it does the existing $4 billion commercial paper program. An existing sterling commercial paper facility continues to be available under the new European program. These issues have been rated A1+ by Standard & Poors and are expected to be rated P1 by Moody's.
 Derek Bonham, deputy chairman and chief executive of Hanson PLC said, "These two programs continue the process of diversifying our funding sources and make available to Hanson companies the price- competitive commercial paper markets. Proceeds from these issues will reduce short term bank debt."
 Hanson PLC is a British-American industrial management corporation. In the US, Hanson Industries' operations include Peabody Holding Company, Quantum Chemical, Suburban Propane, SCM Chemicals, Cavenham Forest Industries, Beazer, Grove Crane, Jacuzzi Whirlpool Baths, Tommy Armour Golf, Ames Tools, Farberware Cookware, Hanson Office Products, and Hanson Lighting Group, among others.
 In the United Kingdom, Hanson's holdings include Imperial Tobacco, ARC Aggregates, London Brick, Butterley Brick, Beazer Homes and Smith Meters.
 In Australia, Hanson's operations include SCM Chemical's titanium dioxide plant in Bunbury, Peabody Resources Limited Coal mines in New South Wales and a 40 percent equity interest in Renison Goldfields Consolidated Limited (a quoted Australian mining company).
 -0- 11/15/93
 /CONTACT: Mickey Foster of Hanson Industries, 908-603-6977/
 (HAN)


CO: Hanson Industries ST: New York IN: SU: OFR

LG -- NY044 -- 4285 11/15/93 09:53 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:Nov 15, 1993
Words:294
Previous Article:MID ATLANTIC MEDICAL SERVICES, INC. RESUMES MARKETING OF HMO TO MARYLAND MEDICAID RECIPIENTS
Next Article:NATIONAL RECORD MART TO ACQUIRE MUSIC CHAIN FROM LEONARD SMITH, INC.
Topics:

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