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LEAR OFFERS 11 1/4-PERCENT SENIOR SUBORDINATED NOTES

 LEAR OFFERS 11 1/4-PERCENT SENIOR SUBORDINATED NOTES
 SOUTHFIELD, Mich., July 24 /PRNewswire/ -- Lear Holdings Corporation


announced today that it and Lear Seating Corporation, its principal operating subsidiary, are offering to the public $125 million of 11 1/4- percent Senior Subordinated Notes due 2000 at a price equal to par plus accrued interest, if any, from July 30, 1992. The 11 1/4-percent Senior Subordinated Notes will be issued by Lear Seating Corporation and guaranteed on a senior subordinated basis by Lear Holdings Corporation.
 Lehman Brothers and the First Boston Corporation are the managing underwriters for the offering.
 Net proceeds from the offering, together with the net proceeds of a $20.0 million common stock purchase by Lear's two major stockholders (the merchant banking partnerships affiliated with Shearson Lehman Brothers, Inc., and FIMA Finance Management Inc., an affiliate of IFINT S.A.), will be used by Lear Seating Corporation to redeem its 14 1/4- percent Senior Subordinated Discount Notes due 1998 and for expansion of Lear's Operations, reduction of borrowings under Lear's credit facility and general corporate purposes.
 Lear Holdings Corporation is the largest independent supplier of automobile and light truck seating systems and seating components in North America and is one of the largest independent suppliers of such systems and components worldwide. Lear and its affiliates operate 44 facilities located in 10 countries and in seven states within the United States.
 -0- 7/24/92
 /CONTACT: Tony De Lorenzo of A.G. De Lorenzo & Associates, 313-644-9150, for Lear Holdings Corporation/ CO: Lear Holdings Corporation; Lear Seating Corporation ST: Michigan IN: AUT SU: OFR


KK -- DE017 -- 3113 07/24/92 15:15 EDT
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Publication:PR Newswire
Date:Jul 24, 1992
Words:275
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