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WEAN INCORPORATED ANNOUNCES DEBENTURE EXCHANGE OFFER

 WEAN INCORPORATED ANNOUNCES DEBENTURE EXCHANGE OFFER
 PITTSBURGH, Nov. 3 /PRNewswire/ -- Wean Incorporated (NYSE: WID)


announced today that the company is making an exchange offer for all of the company's outstanding 5-1/2 percent debentures due March 1993 which total $12,033,000.
 The company is offering to exchange for each $100 in principal amount of the company's 5-1/2 percent convertible subordinated debentures currently outstanding a new 8 percent convertible senior subordinated note in the principal amount of $100. The new notes are convertible into common stock of the company at $5 per share.
 The new notes will mature in 2004 and have the benefit of a sinking fund commencing in 1997.
 The company expects to mail exchange offer materials to debentureholders on Nov. 4, 1992.
 The proposed exchange offer will reschedule the company's principal repayment obligations with respect to the debentures. Debentureholders who participate in the exchange will receive an increase in the interest rate they receive to 8 percent from 5-1/2 percent from the closing of the exchange offer, and will hold a security which is senior to unexchanged debentures. In addition, the $5 conversion rate of the new notes reflects a significant reduction from the $24 conversion rate of the debentures.
 -0- 11/3/92
 /CONTACT: R.J. Wean III of Wean Incorporated, 412-456-5300/
 (WID) CO: Wean Incorporated ST: Pennsylvania IN: MNG SU: OFR


CD-JT -- PG012 -- 2051 11/03/92 12:00 EST
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Publication:PR Newswire
Date:Nov 3, 1992
Words:237
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