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SCOTTS COMPLETES PLAN TO RESTRUCTURE FINANCES WITH THE REDEMPTION OF ITS SUBORDINATED DEBT

 SCOTTS COMPLETES PLAN TO RESTRUCTURE FINANCES
 WITH THE REDEMPTION OF ITS SUBORDINATED DEBT
 MARYSVILLE, Ohio, April 27 /PRNewswire/ -- The Scotts Company (NASDAQ: SCTT) announced that effective today it has redeemed all of the $51 million outstanding principal amount of 13 percent senior subordinated notes due Dec. 15, 1996, and the $20 million outstanding principal amount of its 13-1/2 percent subordinated debentures due Dec. 15, 1998.
 Paul D. Yeager, chief financial officer, stated, "The redemption of all subordinated debt is the final step in our plan to restructure our financing, which began with an initial public offering of our common stock on Jan. 31, 1992, and continued on April 9, 1992, with the amendment of the credit agreement with our participating banks."
 -0- 4/27/92
 /CONTACT: Thomas C. Franco or Allison Sargent of Broadgate Consultants, 212-229-2222, for Scotts/
 (SCTT) CO: The Scotts Company ST: Ohio IN: PAP SU: RCN


KD-TS -- NY109 -- 3395 04/27/92 17:07 EDT
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Publication:PR Newswire
Date:Apr 27, 1992
Words:159
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