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INGERSOLL-RAND TO ISSUE $100 MILLION OF NOTES

 WOODCLIFF LAKE, N.J., Feb. 10 /PRNewswire/ -- Ingersoll-Rand Company (NYSE: IR) today confirmed that it will be issuing $100 million of notes at a price to the public of 99.48 percent of face value. These notes will bear interest at 6-7/8 percent per annum and are not redeemable prior to maturity in 2003.
 The proceeds from the notes will be issued to redeem $68 million outstanding principal amount of 8.05 percent debentures due 2004 and for general corporate purposes. The redemption of the 8.05 percent debentures will be accomplished in two stages:
 1. $8 million of principal amount will be redeemed for the sinking fund on March 1, 1993 at par together with accrued interest to the redemption date, and
 2. $60 million of principal amount will be redeemed on March 10, 1993 at a price of 101.94 percent together with accrued interest to the redemption date.
 -0- 2/10/93
 /CONTACT: Richard D. Johnson, 201-573-3087, or Paul A. Dickard, 201-573-3120, both of Ingersoll-Rand Company/
 (IR)


CO: Ingersoll-Rand Company ST: New Jersey IN: MAC SU:

SM-TS -- NY020 -- 5026 02/10/93 09:21 EST
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Publication:PR Newswire
Date:Feb 10, 1993
Words:189
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