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KENDALL COMPANY COMPLETES SALE OF $100 MILLION OF SENIOR SUBORDINATED NOTES

 MANSFIELD, Mass., May 19 /PRNewswire/ -- Kendall International, Inc. (NASDAQ-NMS: KEND), reported today that its wholly-owned subsidiary, The Kendall Company, had successfully completed the sale of $100 million of Senior Subordinated Notes due 2003. The Notes were sold at par and carry an annual interest rate of 8.25 percent.
 The Notes are unsecured senior subordinated obligations of The Kendall Company, are guaranteed by Kendall International, Inc., and are non-callable for five years. The Notes are callable at 103 percent and 101.5 percent in years six and seven, respectively, and at par thereafter. The Notes have been rated Ba3 by Moody's, BB- by Standard and Poor's with a positive outlook, and BB+ by Duff & Phelps.
 Proceeds of the Notes, along with additional borrowings under the company's bank facilities, which were amended contemporaneously with the sale of the Notes, will be used to redeem all of the company's outstanding 10 percent/12 percent Subordinated Notes in the principal amount of $195.7 million. The offering was underwritten by Merrill Lynch and Co. and Citicorp Securities Markets, Inc. Copies of the prospectus may be obtained from Merrill Lynch and Co., World Financial Center, North Tower, New York, N.Y., 10281, Attention: Prospectus Department, or by calling 212-449-8415.
 The Kendall Company manufactures, markets and distributes medical supplies and devices for the hospital, alternate site health care and home health care markets, as well as adhesive products and tapes for industrial and consumer markets, and employs approximately 8,800 people worldwide.
 -0- 5/19/93
 /CONTACT: James S. Bacciocco, investor relations department, Kendall International, Inc., 508-261-8094/
 (KEND)


CO: Kendall International, Inc., The Kendall Company ST: Massachusetts IN: HEA SU: FNC

DJ -- NE012 -- 3109 05/19/93 12:34 EDT
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Publication:PR Newswire
Date:May 19, 1993
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