Printer Friendly

HOME SAVINGS TO TENDER FOR $400 MILLION OF ITS 10 1/4 PERCENT SUBORDINATED NOTES DUE DEC. 5, 1996

 IRWINDALE, Calif., Oct. 25 /PRNewswire/ -- Home Savings of America, the principal subsidiary of H.F. Ahmanson & Co. (NYSE: AHM), announced today that it is offering to purchase any and all of its 10 1/4 percent Subordinated Notes due Dec. 5, 1996, through a fixed spread tender offer.
 The fixed spread tender offer for the Notes will begin today and expire at 5 p.m. New York time on Nov. 2, 1993, unless extended or terminated earlier by Home Savings.
 The purchase price per $1,000 principal amount of each of the Notes tendered during the term of the offer will be calculated using a yield to the refunding date (Sept. 5, 1995) equal to the sum of:
 i) the yield to maturity of the U.S. Treasury 3.875 percent Note due Aug. 31, 1995, as calculated by Lehman Brothers in accordance with the standard market practice, based on the bid price for such U.S. Treasury Note at the time a Noteholder tenders the Note to the company through Lehman Brothers, plus
 ii) a fixed spread equal to 0.25 percent (25 basis points).
 In addition, Home Savings will pay accrued interest from and including the date of the last regular payment of semi-annual interest up to, but not including, the Settlement Date.
 Tenders will settle on the fifth New York business day following the date on which Noteholders tender their Notes.
 Tenders from Noteholders will be accepted between 9 a.m. and 5 p.m., New York time, on any business day during the term of the offer. The terms of the tender offer are more fully described in the Offer to Purchase dated Oct. 25, 1993.
 Lehman Brothers is acting as exclusive Dealer Manager in connection with the tender offer. Holders of the notes may obtain the purchase price for the Notes at a particular time by contacting Steven G. Delancy of Lehman Brothers at 800-438-3242.
 H.F. Ahmanson & Co., with $50.1 billion in assets, is the parent company of Home Savings of America. Home's $38.9 billion deposit base is the largest of any U.S. savings bank. It operates 375 savings branches in nine states and 88 mortgage lending offices in 13 states.
 -0- 10/25/93
 /CONTACT: Mary Trigg, 818-814-7922/
 (AHM)


CO: Home Savings of America; H.F. Ahmanson & Co. ST: California IN: FIN SU:

JL-LS -- LA017 -- 6120 10/25/93 08:20 EDT
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:Oct 25, 1993
Words:402
Previous Article:HUGHES UNVEILS NEW AIR TRAFFIC CONTROL SYSTEM TO MEET WORLD NEEDS
Next Article:CALIFORNIA FEDERAL BANK REPORTS THIRD QUARTER RESULTS
Topics:

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