Printer Friendly

READING & BATES CORPORATION MAKES ANNOUNCEMENT

 HOUSTON, July 23 /PRNewswire/ -- Reading & Bates Corporation (NYSE: RB) has priced a registered public offering of 2,600,000 shares (2,990,000 shares if the underwriters' over-allotment option is exercised in full) of a new class of $1.625 convertible preferred stock, par value $1 per share, having a liquidation preference of $25 per share.
 Reading & Bates intends to use the proceeds of the offering to repay indebtedness under the company's principal bank credit agreement and for working capital and general corporate purposes.
 Salomon Brothers Inc., Smith Barney, Harris Upham & Co. Incorporated and Jefferies & Company, Inc. will manage the offering. A prospectus may be obtained from Salomon Brothers Inc., Seven World Trade Center, New York, N.Y. 10048, Attention: Prospectus Dept.
 Reading & Bates is a New York Stock Exchange listed company, providing drilling and technical consulting services to the upstream offshore oil and gas industry throughout the world.
 -0- 7/23/93
 /CONTACT: T. W. Nagle of Reading & Bates Corporation, 713-496-5000/
 (RB)


CO: Reading & Bates Corporation ST: Texas IN: OIL SU: OFR

MP -- NY083 -- 5305 07/23/93 16:38 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 23, 1993
Words:182
Previous Article:AMERICAN ANNUITY GROUP'S $85 MILLION SENIOR NOTES RATED 'BB' BY FITCH -- FITCH FINANCIAL WIRE --
Next Article:DUFF & PHELPS ADDS WESTERN GAS RESOURCES, INC. TO RATING WATCH
Topics:


Related Articles
READING & BATES MAKES ANNOUNCEMENT
READING & BATES CORPORATION ANNOUNCES MOWELL TO SENIOR VICE PRESIDENT
READING & BATES ANNOUNCES LETTERS OF INTENT FROM BP EXPLORATION OPERATING COMPANY LTD. AND INPEX ACEH, LTD. FOR PT BOSARA MULIA
READING & BATES CORPORATION MAKES ANNOUNCEMENT
READING & BATES CORPORATION MAKES ANNOUNCEMENT
READING & BATES CORPORATION MAKES ANNOUNCEMENT
READING & BATES CORPORATION MAKES ANNOUNCEMENT
READING & BATES CORPORATION MAKES ANNOUNCEMENT
READING & BATES CORPORATION MAKES ANNOUNCEMENT
READING & BATES CORPORATION MAKES ANNOUNCEMENT REGARDING TRANSOCEAN ASA

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters