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RELIANCE ELECTRIC COMPANY OFFERS $150 MILLION OF 6.8 PERCENT NOTES DUE APRIL 15, 2003

 CLEVELAND, April 14 /PRNewswire/ -- Reliance Electric Company (NYSE: REE) announced today the public offering of $150 million of 6.8% Notes due April 15, 2003. The Notes are priced at 99.705 percent, plus accrued interest from April 15, 1993, to yield 6.841 percent. The Notes will not be redeemable prior to maturity and do not provide for any sinking fund. Goldman, Sachs & Co. and Prudential Securities Incorporated are the managing underwriters of the offering.
 Proceeds from the Notes will be used to refinance a portion of the Company's outstanding indebtedness.
 Reliance Electric Company, headquartered in Cleveland, Ohio designs, manufactures, sells and services a broad range of industrial and telecommunications equipment and has annual sales in excess of $1.5 billion. Reliance operates 48 manufacturing plants worldwide in 9 countries and employs approximately 14,000 people.
 -0- 4/14/93
 /CONTACT: P. Kelly Tompkins of Reliance Electric, 216-266-5809/
 (REE)


CO: Reliance Electric Company ST: Ohio IN: MFG SU: OFR

DA -- CL022 -- 0761 04/14/93 17:06 EDT
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Publication:PR Newswire
Date:Apr 14, 1993
Words:169
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