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PRICE SET FOR ASHLAND OIL'S $250 MILLION DEBT OFFERING

 ASHLAND, Ky., Nov. 19 ~PRNewswire~ -- Ashland Oil, Inc. (NYSE: ASH) announced today that it had sold $250 million in debentures through a public offering. The debentures will be due in 2012 and bear interest at 8.80 percent. Closing of the sale will occur on Nov. 30, 1992.
 Proceeds from the sale of the debentures will be used to refinance approximately $60 million in outstanding floating rate term debt under Ashland's $120 million term loan, with the remainder used to refinance outstanding short term debt. The offering was underwritten by Salomon Brothers Inc, The First Boston Corporation and J.P. Morgan Securities Inc.
 Any offering will be made only by means of a written prospectus. A registration statement relating to these securities has been filed with the SEC.
 This press release shall not constitute an offer to sell or solicitation of any offer to buy nor shall there by any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 11~19~92
 ~CONTACT: Roger Schrum of Ashland Oil, 606-329-4061~
 (ASH)


CO: Ashland Oil, Inc. ST: Kentucky IN: OIL SU: OFR

CD -- PG029 -- 3102 11~19~92 16:35 EST
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Publication:PR Newswire
Date:Nov 19, 1992
Words:211
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