Printer Friendly

KAISER ALUMINUM CORP. FILES REGISTRATION STATEMENT FOR PROPOSED EQUITY OFFERING

 HOUSTON, April 29 /PRNewswire/ -- Kaiser Aluminum Corp. (NYSE: KLU) said today that it has filed a registration statement with the Securities and Exchange Commission (SEC) for the sale of approximately 17.2 million depositary shares, representing ownership of Series A Mandatory Conversion Premium Dividend Preferred Stock.
 The depositary shares are subject to mandatory conversion into Kaiser common stock not later than three years from the date of issuance. In addition to the depositary shares to be offered to the public, a pre-existing $15 million loan from MAXXAM to Kaiser's operating subsidiary, Kaiser Aluminum & Chemical Corp. (KACC), is expected to be exchanged for additional depositary shares.
 Proceeds would be used to make a capital contribution to KACC and to fund a loan to KACC. KACC, in turn, intends to use the proceeds to repay its outstanding term loan and to reduce outstanding borrowings under its revolving credit facility.
 The underwriters for the proposed new offering are Merrill Lynch & Co.; Bear, Stearns & Co. Inc.; Donaldson, Lufkin & Jenrette Securities Corp.; PaineWebber Inc.; and Salomon Brothers Inc.
 A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy; nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Kaiser Aluminum Corp. is one of the world's leading producers of alumina, primary aluminum, and fabricated aluminum products and is a major supplier of alumina and primary aluminum in the domestic and international markets. It is 87.2 percent held by MAXXAM Inc. (AMEX: MXM).
 -0- 4/29/93
 /CONTACT: Scott Lamb of Kaiser Aluminum, 713-267-3826/
 (KLU MXM)


CO: Kaiser Aluminum Corp.; MAXXAM Inc.; Kaiser Aluminum & Chemical
 Corp. ST: Texas IN: MNG SU:


TM -- SF005 -- 2585 04/29/93 10:57 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 29, 1993
Words:348
Previous Article:SDG&E CUSTOMERS TO SAVE $65 MILLION FROM BOND REFINANCING
Next Article:UNITED AIRLINES REACHES AGREEMENT WITH AIRBUS TO SLOW A320 DELIVERY SCHEDULE; OTHER AIRCRAFT TO BE RETIRED ON ACCELERATED BASIS
Topics:


Related Articles
KAISER ALUMINUM & CHEMICAL FILES REGISTRATION STATEMENT FOR OFFERING OF $400 MILLION OF SENIOR SUBORDINATED NOTES
KAISER ALUMINUM & CHEMICAL CORP. REGISTRATION STATEMENT DECLARED EFFECTIVE; COMPANY EXTENDS TENDER OFFER
MAXXAM SUBSIDIARY FILES REGISTRATION STATEMENT
KAISER REGISTRATION STATEMENT DECLARED EFFECTIVE BY SEC
KAISER ALUMINUM FILES SHELF REGISTRATION, ANNOUNCES FOURTH QUARTER CHARGES
KAISER ALUMINUM CORPORATION AND OPERATING SUBSIDIARY FILE AMENDED REGISTRATION STATEMENTS
KAISER ALUMINUM REGISTRATION STATEMENTS DECLARED EFFECTIVE; NEW CREDIT AGREEMENT TO BE SIGNED
PHLX TO BEGIN TRADING OPTIONS ON KAISER ALUMINUM CORP.
MAXXAM INC. FILES REGISTRATION STATEMENT
Kaiser Aluminum & Chemical Corporation Announces Proposed Rule 144A Offering of $175 Million of Senior NoteS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters