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JORDAN INDUSTRIES RECEIVES CONSENT TO AMENDMENTS

 DEERFIELD, Ill., July 15 /PRNewswire/ -- Jordan Industries, Inc. announced today that it had received the consent of the holders of a majority of the $203,300,000 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 to amendments to the indenture governing such notes on July 14, 1993 (the "consent date"). The supplemental indenture reflecting the amendments has been executed by the company and the trustee, First Trust National Association, 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the terms of the tender offer and the consent solicitation, tenders delivered pursuant to the offer may no longer be withdrawn, and consents delivered pursuant to the consent solicitation may no longer be revoked.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 12 midnight, New York City time, on July 21, 1993, in anticipation of the closing of the company's public offering of $275,000,000 aggregate principal amount of senior notes due 2003, and senior subordinated discount debentures due 2005 having a $75,000,000 initial accreted value, 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.
 Based upon a preliminary count, First Trust National Association, the depositary for the offer, has advised the company that approximately $123,500,000 aggregate principal amount of Notes had been tendered as of 12 midnight on July 14.
 Donaldson, Lufkin & Jenrette Securities Corporation and Jefferies & Company, Inc. are acting as dealer-managers for the offer and consent solicitation.
 -0- 7/15/93
 /CONTACT: Thomas H. Quinn, president and chief operating officer of Jordan Industries, Inc., 708-945-5591/


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

SH -- NY016 -- 1845 07/15/93 10:13 EDT
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Publication:PR Newswire
Date:Jul 15, 1993
Words:458
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