Printer Friendly

VALHI PRICES DEBT OFFERING

 VALHI PRICES DEBT OFFERING
 DALLAS, Oct. 13 /PRNewswire/ -- Valhi Inc. (NYSE: VHI) announced


today that its registration statement, as filed with the Securities and Exchange Commission in connection with its previously announced public offering of zero coupon Liquid Yield Option(TM) Notes ("LYONs"(TM)) due 2007 ((TM)Trademark of Merrill Lynch & Co. Inc.), has been declared effective and that the offering has been priced. Closing of the offering is scheduled for Oct. 20. Valhi will sell $329,600,000 principal amount at maturity of the LYONs at an aggregate issue price of $84,901,664. Merrill Lynch & Co., as underwriter for the offering, was granted an option for 30 days to purchase up to an additional $49,440,000 principal amount at maturity of the LYONs, solely to cover over-allotments, if any. Each $1,000 in principal amount at maturity of LYONs is exchangeable for 36.077 shares of Baroid Corp. (NYSE: BRC) common stock. The LYONs will be traded on the New York Stock Exchange. The net proceeds of the offering will be available for Valhi's general corporate purposes. Valhi expects to use such proceeds to retire a portion of its 12.5 percent senior subordinated notes due 1998 through market purchases or otherwise.
 Valhi Inc., headquartered in Dallas, is a diversified company engaged in the refined sugar, forest products, fast food and hardware products industries and, indirectly through its equity interests in NL Industries Inc. and Tremont Corp., in the chemicals, titanium metals and bentonite mining industries. Valhi's common stock is traded on the New York and Pacific Stock Exchanges under the symbol "VHI." Baroid's common stock is traded on the New York and Pacific Stock Exchanges under the symbol "BRC."
 -0- 10/13/92
 /CONTACT: William C. Timm, VP-finance and administration of Valhi, 214-450-4212/
 (VHI BRC) CO: Valhi Inc.; Baroid Corp. ST: Texas IN: FOD PAP CHM MNG SU: OFR


BP-KJ -- LA038 -- 9620 10/13/92 19:06 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 13, 1992
Words:322
Previous Article:DEXTER REPORTS THIRD QUARTER EARNINGS GROWTH EXCEEDS SALES IMPROVEMENT
Next Article:GM CHAIRMAN ADMITTED TO HOSPITAL
Topics:


Related Articles
VALHI INC. ANNOUNCES FILING OF REGISTRATION STATEMENT
VALHI INC. DECLARES QUARTERLY DIVIDEND
VALHI INC. DECLARES QUARTERLY DIVIDEND
VALHI INC. SUBSIDIARY PRICES NOTE OFFERING
VALHI INC. ANNOUNCES REDEMPTION OF NOTES
VALHI RESTORES QUARTERLY DIVIDEND
VALHI DECLARES QUARTERLY DIVIDEND AND HOLDS ANNUAL STOCKHOLDERS MEETING
VALHI DECLARES OUARTERLY DIVIDEND
VALHI DECLARES QUARTERLY DIVIDEND
Valhi Announces Refinancing of Loans Receivable

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters