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MAGNETEK ANNOUNCES COMPLETION OF DEBENTURE SALE

 MAGNETEK ANNOUNCES COMPLETION OF DEBENTURE SALE
 LOS ANGELES, Dec. 10 /PRNewswire/ -- MagneTek Inc. (NYSE: MAG)


announced today that on Dec. 4, 1991, the company completed the public sale of $125 million of 10-3/4 percent senior subordinated debentures due Nov. 15, 1998, priced at 100 percent of their principal amount. The First Boston Corp. and Lehman Brothers were the underwriters for the offering of the debentures.
 Net proceeds will be used to redeem the company's 11-7/8 percent first senior subordinated notes due 1994, which have been called for redemption and are payable at 101.5 percent of their principal amount on Jan. 2, 1992. Remaining proceeds will be used to reduce MagneTek's bank indebtedness.
 Listed on the New York Stock Exchange, MagneTek provides a wide range of Energy Engineered(TM) electrical equipment and services to utilities and industrial customers. The company operates 65 manufacturing and service facilities throughout North America and overseas, and employs some 16,000 associates worldwide.
 -0- 12/10/91
 /CONTACT: Robert W. Murray of MagneTek, 310-444-7250/
 (MAG) CO: MagneTek Inc. ST: California IN: UTI SU:


KJ-EH -- LA012 -- 1023 12/10/91 12:54 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Dec 10, 1991
Words:189
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