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Reynolds and Reynolds Files Public Debt Offering

DAYTON, Ohio, Nov. 22 /PRNewswire/ -- The Reynolds and Reynolds Company (NYSE: REY) announced today that it had filed a preliminary registration statement with the Securities and Exchange Commission for a public debt offering. The total offering, which may take the form of notes, debentures or other unsecured evidences of indebtedness, may not exceed $300 million. The timing and the amounts of the debt take-down have not yet been decided and the registration statement is subject to SEC review. The investment rating assigned to the debt will be announced in the near future.

"Given the favorable interest rate environment and our growth profile, this seemed an appropriate time for us to take advantage of the public debt market," said Chairman, President and CEO, David R. Holmes. "The funds raised from this offering will enable us to refinance the debt we incurred with the acquisition of Duplex and have additional resources available for general corporate purposes and other suitable acquisitions."

Reynolds and Reynolds, headquartered in Dayton, Ohio, is a leading provider of integrated information management systems and related value-added services to automotive, healthcare and general business markets. The company reported fiscal 1996 revenues of $1.1 billion. For more information on Reynolds and Reynolds, visit the company's World Wide Web site on http://www.reyrey.com.

SOURCE Reynolds and Reynolds Company
 -0- 11/22/96


/CONTACTS: Mitch Haws, 513-449-4460, or mitch_haws@reyrey.com, or Paul Guthrie, 513-449-4216, or paul_guthrie@reyrey.com, both of Reynolds and Reynolds/

(REY)

CO: Reynolds and Reynolds Company ST: Ohio IN: SU: OFR

MT-MA -- NYF043 -- 5824 11/22/96 12:03 EST http://www.prnewswire.com
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Publication:PR Newswire
Date:Nov 22, 1996
Words:270
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