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UNION CARBIDE TO REDEEM 9.75 PERCENT NOTES DUE 1994; UCC, UCIG SIGN NEW CREDIT AGREEMENTS

 UNION CARBIDE TO REDEEM 9.75 PERCENT NOTES DUE 1994;
 UCC, UCIG SIGN NEW CREDIT AGREEMENTS
 DANBURY, Conn., April 15 /PRNewswire/ -- Union Carbide Corporation (NYSE: UK) today announced that, as part of its debt strategy, it will redeem on May 5 all of its outstanding $350 million of 9.75 percent senior subordinated notes due April 15, 1994. The notes will be redeemed at a price equal to 101.625 percent of the principal amount. The redemption will not have a material effect on earnings.
 In another transaction, Union Carbide said both the corporation and Union Carbide Industrial Gases (UCIG) today had signed two new credit agreements with groups of banks. The agreements will provide UCIG with $1 billion in credit and Union Carbide with $850 million in credit.
 -0- 4/15/92
 /CONTACT: Tomm F. Sprick of Union Carbide, 203-794-6992/
 (UK) CO: Union Carbide Corporation ST: Connecticut IN: CHM SU:


GK -- NY062 -- 8666 04/15/92 11:54 EDT
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Publication:PR Newswire
Date:Apr 15, 1992
Words:160
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