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RJR NABISCO SUBSIDIARIES TO REDEEM $59 MILLION OF DEBENTURES

 RJR NABISCO SUBSIDIARIES TO REDEEM $59 MILLION OF DEBENTURES
 NEW YORK, Sept. 14 /PRNewswire/ -- RJR Nabisco Holdings Corp. (NYSE: RN) today announced that two of its subsidiaries have called for redemption three outstanding debt issues with a total principal amount of $59.3 million.
 The company said that its subsidiary R.J. Reynolds Tobacco Co. has called for redemption on Oct. 15, 1992, all of its outstanding 7-7/8 percent sinking fund debentures due 1994. The redemption price, as provided for in the terms of the sinking fund debentures, is $1,000 plus $9.625 of accrued interest for each $1,000 principal amount of sinking fund debentures. Total consideration for each $1,000 principal amount is $1,009.625.
 Nabisco, Inc., another RJR Nabisco subsidiary, has called for redemption on Oct. 15, 1992, all of its 8.45 percent notes due 1998 and its 9-1/2 percent sinking fund debentures due 2004. These securities originally were issued by Standard Brands, Inc. The redemption price for the 8.45 percent notes, as provided for in the terms of the 8.45 percent notes, is $1,022.24 for each $1,000 principal amount. There also will be a payment of $24.65 in accrued interest on the 8.45 percent notes, bringing total consideration for each $1,000 principal amount of 8.45 percent notes to $1,046.89. The redemption price for the 9-1/2 percent sinking fund debentures, as provided for in the terms of the sinking fund debentures, is $1,029.60 plus accrued interest of $31.67 per $1,000 principal amount of sinking fund debentures. Total consideration is $1,061.27 per $1,000 principal amount of sinking fund debentures.
 R.J. Reynolds Tobacco Co. currently has outstanding $10 million principal amount of 7-7/8 percent sinking fund debentures due 1994. Security Pacific Trust Company (New York) is the paying agent.
 Nabisco, Inc. currently has outstanding $20.3 million principal amount of 8.45 percent notes due 1998, and $29 million principal amount of 9-1/2 percent sinking fund debentures due 2004. Chemical Bank is the paying agent for the 9-1/2 percent sinking fund debentures. The company will itself manage payment for the 8.45 percent notes.
 RJR Nabisco Holdings Corp. is the indirect parent of RJR Nabisco, Inc., an international consumer products company. RJR Nabisco's major operating units are R.J. Reynolds Tobacco Co., R.J. Reynolds Tobacco International, Inc., and the Nabisco Foods Group.
 -0- 9/14/92
 /CONTACT: Jason Wright of RJR Nabisco, 212-258-5770/
 (RN) CO: RJR Nabisco Holdings Corporation; R.J. Reynolds Tobacco Company;
 Nabisco, Inc. ST: New York IN: SU:


EA-TG -- AT011 -- 9346 09/14/92 17:46 EDT
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Publication:PR Newswire
Date:Sep 14, 1992
Words:450
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