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JORDAN INDUSTRIES ANNOUNCES PUBLIC OFFERING

 DEERFIELD, Ill., July 16 /PRNewswire/ -- Jordan Industries, Inc. announced today the public offering of $275 million aggregate principal amount of senior notes due 2003 and $133,075,293 aggregate face amount of senior subordinated discount debentures due 2005. The senior notes are priced at par to yield 10-3/8 percent and the senior subordinated discount debentures are priced to yield 11-3/4 percent.
 The notes are being offered pursuant to a previously filed registration statement. The net proceeds of approximately $341,755,000 from the sale of the notes will be applied to the repurchase or redemption of the company's outstanding 13-7/8 percent Series A senior subordinated notes due 1998 and 16 percent Series B senior subordinated notes due 1998. The company announced yesterday that it had received the consent of the holders of a majority of the $203,300,000 aggregate principal amount of its outstanding Series A and Series B notes to amendments to the indenture governing such notes, and had received the supplemental indenture reflecting the amendments, which amendments will be operative as of the payment date under the company's related tender offer for the notes. As a result, in accordance with the terms of the tender offer and the consent solicitation, tenders delivered pursuant to the offer may no longer be withdrawn, and consents delivered pursuant to the consent solicitation may no longer be revoked.
 The company's offer to purchase for cash all of the outstanding notes at a price of $1,080 per $1,000 principal amount of Series A notes and $1,095 per $1,000 principal amount of Series B notes, plus, in each case, accrued interest through the payment date, which was scheduled to expire at midnight, New York City time, on July 14, 1993, has been further extended to midnight, New York City time, on July 21, 1993, in anticipation of the closing of the company's public offering on or about such date. The closing of the public offering is a condition to the company's obligation to purchase Notes tendered pursuant to the offer. Holders who tender notes at any time prior to the final expiration of the offer will receive a cash consent payment of $7.50 per $1,000 principal amount of notes purchased pursuant to the offer. Holders of Series B notes who elected to deliver a consent with respect to such notes without concurrently tendering their notes will receive a consent payment only with respect to consents delivered by the consent date, payable upon consummation of the offer.
 According to First Trust National Association, the depositary for the offer, approximately $123,500,000 aggregate principal amount of notes had been tendered as of 5 p.m. on July 15, of which 30,350,000 had been tendered by Donaldson, Lufkin & Jenrette Securities Corporation and affiliates, including Equitable Life and Alliance Capital.
 Donaldson, Lufkin & Jenrette Securities Corporation and Jefferies & Company, Inc. are acting as the managing underwriters for the public offering and as the dealer-managers for the offer and consent solicitation.
 -0- 7/16/93
 /CONTACT: Thomas H. Quinn, president and chief operating officer of Jordan Industries, Inc., 708-945-5591/


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

CK -- NY015 -- 2407 07/16/93 10:49 EDT
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Publication:PR Newswire
Date:Jul 16, 1993
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