ORIOLE HOMES CORP. PUBLIC OFFERING OF SENIOR NOTES
ORIOLE HOMES CORP. PUBLIC OFFERING OF SENIOR NOTES DELRAY BEACH, Fla., Sept. 4 /PRNewswire/ -- Oriole Homes Corp.
(AMEX: OHC.A; OHC.B) announced today that it has filed a S-2 registration statement for the public offering of $70 million of Senior Notes due 2002. A portion of the net proceeds of the offering will be used to redeem the company's outstanding 12 7/8 percent Subordinated Debentures. Bear, Stearns & Co. Inc., PainWebber Incorporated and Libra Investments, Inc. are managing the offering.
Oriole Homes is engaged principally in the design, construction, marketing and sale of single-family homes, patio homes, townhomes, villas, duplexes and low-and mid-rise condominiums in Palm Beach and Broward counties in Florida. -0- 9/4/92 /NOTE TO EDITOR: A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such an offer, solicitation or sale would be unlawful prior to registration of qualification under the securities laws of any such state. Copies of the preliminary prospectus may be obtained from Bear, Stearns & Co., Inc., 245 Park Ave., New York, NY 10167; PaineWebber Incorporated, 1285 Avenue of the Americas, New York, NY 10019; and Libra Investments, Inc., 11766 Wilshire Blvd., Suite 870, Los Angeles, Calif. 90025./ /CONTACT: Richard D. Levy, chairman and chief executive officer, or Mark A. Levy, president of Oriole Homes, 407-274-2000; or Barry A. Rothman of Greenstone Roberts Public Relations, 305-975-3500, for Oriole Homes/ (OHC) CO: Oriole Homes Corp. ST: Florida IN: CST SU: OFR
JB-SS -- FL010 -- 6941 09/04/92 12:38 EDT
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|Date:||Sep 4, 1992|
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