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JORDAN INDUSTRIES, INC. ANNOUNCES TENDER OFFER FOR 13-7/8 PERCENT AND 16 PERCENT SUBORDINATED NOTES

 DEERFIELD, Ill., June 3 /PRNewswire/ -- Jordan Industries, Inc. announced that it has commenced a cash tender offer to purchase all (but not less than $142,310,000 in aggregate principal amount) of its outstanding 13-7/8 percent Series A Senior subordinated notes due 1998 and 16 percent Series B senior subordinated notes due 1998 and a related consent solicitation to amend certain terms of the indenture under which the notes were issued.
 Under the terms of the tender offer, the company is offering to purchase the Series A notes at a price of $1,080 per $1,000 principal amount and the Series B notes at a price of $1,095 per $1,000 principal amount, plus, in each case, interest accrued through the date of payment. Holders who validly tender notes will be deemed to have consented to the proposed amendments to the indenture pursuant to the consent solicitation and will receive a cash consent payment of $7.50 for each $1,000 principal amount of notes purchased pursuant to the offer. Holders may not deliver consents without tendering notes.
 The offer and the consent solicitation will expire at midnight, Eastern Standard time, on June 29, 1993, unless extended. Tenders of notes may be withdrawn, and the consents with respect to such notes thereby revoked, at any time until June 29, 1993, if, as of such date, consents of at least a majority in aggregate principal amount outstanding of the notes (other than notes owned by the company or its affiliates) to the proposed amendments to the indenture have been obtained or, if such requisite consents are obtained later, the date such requisite consents are obtained.
 The company's obligation to complete the tender offer and consent solicitation is dependent upon certain conditions, including consummation of a pending new offering of the company's senior notes and senior subordinated discount debentures.
 $203,300,000 aggregate principal amount of notes are currently outstanding. Pursuant to the indentures relating to the new senior notes and senior subordinated discount debentures, the company will covenant to redeem, on Dec. 15, 1993, any outstanding notes not purchased pursuant to the offer at the then applicable redemption prices of $1,053.60 per $1,000 principal amount of Series A notes and $1,060 per $1,000 principal amount of Series B notes, plus, in each case, accrued interest through the redemption date.
 The company was organized to acquire and operate a diverse group of businesses that are managed on a decentralized basis, with a small corporate staff providing strategic direction and support. The company is currently comprised of 14 businesses which are dividend into three segments: consumer products, industrial products and equipment, and specialty advertising and calendars.
 Dealer managers for the offer and consent solicitation are Donaldson, Lufkin & Jenrette Securities Corporation and Jefferies & Company, Inc.
 -0- 6/4/93
 /CONTACT: Thomas H. Quinn, president and chief operating officer, Jordan Industries, Inc., 708-945-5591/


CO: Jordan Industries, Inc. ST: Illinois IN: SU:

CK -- NY020 -- 5373 06/04/93 10:39 EDT
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Publication:PR Newswire
Date:Jun 4, 1993
Words:503
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