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SERVICE MERCHANDISE ANNOUNCES REDEMPTION OF NOTES

 NASHVILLE, Tenn., Feb. 19 /PRNewswire/ -- Service Merchandise Company, Inc. (NYSE: SME) announced today that it will redeem, on March 19, 1993, the entire outstanding $300,000,000 in aggregate principal amount of its 11 3/4 percent Senior Subordinated Notes due 1996 at 101.68 percent of the principal amount thereof, together with accrued and unpaid interest thereon. Interest on the Notes will cease to accrue or be payable after March 19, 1993. The redemption price will be paid out of the net proceeds from the sale, on Feb. 17, 1993, of the Company's $300,000,000 in principal amount 9 percent Senior Subordinated Debentures due 2004, together with cash on hand.
 Service Merchandise Company, Inc., "America's Leading Jeweler", operates 370 catalog stores and two Kids Central USA stores in 37 states.
 -0- 2/19/93
 /CONTACT: S.P. Braud, Vice-President, Treasurer, Chief Financial Officer, Service Merchandise Company, Inc., 615-660-3300/
 (SME)


CO: Service Merchandise, Inc. ST: Tennessee IN: REA SU:

MM -- CH010 -- 8521 02/19/93 16:31 EST
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Publication:PR Newswire
Date:Feb 19, 1993
Words:169
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