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MAGNETEK ANNOUNCES COMPLETION OF PUBLIC SALE OF SENIOR SUBORDINATED DEBENTURES

 MAGNETEK ANNOUNCES COMPLETION OF PUBLIC
 SALE OF SENIOR SUBORDINATED DEBENTURES
 LOS ANGELES, Dec. 11 /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 of their Senior Subordinated Debentures due Nov. 15, 1998, proceed 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. 3, 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 operated 65 manufacturing and service facilities throughout North America and overseas, and employs some 16,000 associates worldwide.
 -0- 12/11/91
 /NOTE: MagneTek's first Senior Subordinated Notes due 1994 are payable on Jan. 3, 1992 -- not Jan. 2, 1992. This corrects an announcement made yesterday (Dec. 10).
 /CONTACT: Robert W. Murray of MagneTek, 310-444-7250/
 (MAG) CO: MagneTek Inc. ST: California IN: SU:


AL-DM -- LA018 -- 1579 12/11/91 15:42 EST
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Publication:PR Newswire
Date:Dec 11, 1991
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