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THE PROMUS COMPANIES INCORPORATED AND EMBASSY SUITES, INC. ANNOUNCE PUBLIC OFFERING OF DEBT

 THE PROMUS COMPANIES INCORPORATED AND EMBASSY SUITES, INC.
 ANNOUNCE PUBLIC OFFERING OF DEBT
 MEMPHIS, Tenn., April 8 /PRNewswire/ -- The Promus Companies Incorporated (NYSE: PRI), and its wholly-owned subsidiary, Embassy Suites, Inc., today announced the public offering of $200 million principal amount of Embassy's 10 7/8 percent Senior Subordinated Notes due 2002. Promus guarantees Embassy's obligations under the Notes, which are unsecured.
 The Notes are being offered in the United States. Donaldson, Lufkin & Jenrette Securities Corporation is the lead underwriter for the offering and BT Securities Corporation and The First Boston Corporation are the co-managing underwriters.
 The net proceeds from the offering will be used to refinance certain of Promus' existing secured debt. The offering is part of Promus' strategy to reduce its principal repayment obligations over the next several years and to lengthen the maturities of its long term debt.
 The Promus Companies Incorporated is one of the leading casino and hotel companies in the United States. Its Harrah's gaming division operates six gaming properties, located in Las Vegas, Lake Tahoe, Laughlin and Reno, Nevada, and Atlantic City, New Jersey. The Company also owns, operates or franchises over 400 hotels under the Embassy Suites, Hampton Inn and Homewood Suites brands.
 A copy of the prospectus may be obtained from Donaldson, Lufkin & Jenrette Securities Corporation, 140 Broadway, New York, New York 10005.
 -0- 4/8/92
 /CONTACT: Ralph Berry, The Promus Companies Incorporated, 901-762-8629/
 (PRI) CO: The Promus Companies Incorporated ST: Tennessee IN: LEI SU: OFR


DF -- CH005 -- 6225 04/08/92 11:46 EDT
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Publication:PR Newswire
Date:Apr 8, 1992
Words:255
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