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JOY TECHNOLOGIES INC. SELLS $200 MILLION OF SENIOR NOTES

 PITTSBURGH, Sept. 29 /PRNewswire/ -- Joy Technologies Inc. (NYSE: JOY) announced that it successfully completed the $200 million public sale of 10.25 percent 10-year unsecured senior notes on Sept. 28, 1993.
 Fred R. Jones, senior vice president and chief financial officer, stated that: "Proceeds will be used to prepay debt, including the company's junior subordinated notes which are the only remaining securities issued in conjunction with the company's leveraged buy-out in 1987. This refinancing increases the company's financial and operating flexibility, eliminates high-cost subordinated debt and reduces debt amortization by over $27 million per year over the next four years."
 The senior notes are rated B1 by Moody's Investors Service and B by Standard & Poor's Corporation. Morgan Stanley & Co. Incorporated, BT Securities Corporation and Chase Securities, Inc. underwrote the issue, which was priced at par.
 Joy Technologies Inc. manufactures and services mining equipment for the extraction of coal and other bedded minerals. The company is also a supplier of air pollution and ash handling equipment used for utilities and other industrial operations.
 /delval/
 -0- 9/29/93
 /CONTACT: John F. Moynahan, vice president & treasurer of Joy Technologies, 412-562-4540/
 (JOY)


CO: Joy Technologies Inc. ST: Pennsylvania IN: MNG SU:

CD-DM -- PG001 -- 6675 09/29/93 09:04 EDT
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Publication:PR Newswire
Date:Sep 29, 1993
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