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L.A. GEAR COMPLETES PRIVATE SALE OF DEBENTURES

 SANTA MONICA, Calif., Dec. 24 /PRNewswire/ -- L.A. Gear Inc. (NYSE: LA) announced today that it had completed a private sale of $50,000,000 aggregate principal amount of 7 3/4 percent Convertible Subordinated Debentures due 2002. The issue was sold through Kidder Peabody & Co. and Sutro & Co. The debentures are convertible into shares of L.A. Gear common stock at a conversion rate of $12.30 per share and are redeemable by the company at any time on or after Nov. 30, 1995, initially at a specified premium to par, declining to par for redemptions on or after Nov. 30, 2000. The proceeds from the sale of the debentures will be used for expansion of the company's international business and for general corporate purposes.
 -0- 12/24/92
 /CONTACT: William Benford of L.A. Gear, 310-581-7352; or Sandra Sternberg of Sitrick and Co., 310-788-2850, for L.A. Gear/
 (LA)


CO: L.A. Gear Inc. ST: California IN: TEX SU: OFR

JL-EH -- LA006 -- 9866 12/24/92 14:24 EST
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Publication:PR Newswire
Date:Dec 24, 1992
Words:171
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