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LAIDLAW INC. ANNOUNCES UNDERWRITING AGREEMENT

 TORONTO, Dec. 13 /PRNewswire/ -- Laidlaw Inc. today announced that it has entered into an underwriting agreement with a group of Canadian investment banks led by RBC Dominion Securities Inc. to purchase US$280 million principal amount of ADT-linked convertible debentures due Jan. 31, 1999.
 U.S. dollar denominated debentures will be issued bearing interest at a rate of 6.00 percent per annum and Canadian dollar denominated debentures will be issued bearing interest at a rate of 6.75 percent per annum. The maximum size of the Canadian dollar issue will be Canadian $150 million.
 On maturity each debenture will allow the holder to participate in an increase in the market price of common shares of ADT Limited above US$9 to a maximum of US$12.60.
 Laidlaw will have the option to satisfy its obligations on conversion or upon the repayment of the principal amount of the debentures in ADT common shares, Laidlaw class B non-voting shares or cash or a combination thereof.
 The issue has been structured to enable Laidlaw Inc. to monetize its investment in ADT Limited and fully participate in any appreciation of the ADT Limited common share price in excess of US$12.60 over the five year term of the debentures. Laidlaw Inc. may sell any or all of its ADT Limited common shares at any time prior or subsequent to maturity.
 Proceeds from the issue of the debentures will be used by Laidlaw Inc. to repay scheduled debt maturities and to finance other core business activities.
 -0- 12/13/93
 /CONTACT: T.A.G. Watson, vice president, communications, or P. Van Damme, vice president, controller, both of Laidlaw Inc., 905-336-1800/
 (LDM)


CO: Laidlaw Inc. ST: Ontario IN: ENV SU: FNC

TW -- NY055 -- 3126 12/13/93 11:18 EST
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Publication:PR Newswire
Date:Dec 13, 1993
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