June 4, 1998 |
Ingram Micro Inc. said Wednesday that it plans to repay some of its debt by raising about $400 million through a private offering of debentures, a form of corporate IOU. The debentures are due in 2018. The Santa Ana-based distributor of technology products did not release the interest it has set for the tender offer. Ingram's stock price dropped 9.3%, or $4 a share, Wednesday to close at $39.
December 21, 1995
Saba Petroleum Co. said it is offering $11 million in debentures, primarily to repay debts incurred in acquiring oil and gas properties in Colombia. The debentures, which have been approved for listing on the American Stock Exchange, can be converted into Saba's common stock at an initial conversion price of $8.75 per share. Saba is an international oil and gas producer.
November 17, 1993
Nationwide Health Properties Inc. said Tuesday that it raised nearly $65 million from the sale of debentures--corporate IOUs--that pay investors a 6.25% interest rate. The debentures were underwritten by a group of brokerages headed by NatWest Securities Ltd. and co-managed by Alex. Brown & Sons Inc. and A.G. Edwards & Sons Inc. The notes, with a $1,000 face value, were sold on the New York Stock Exchange. Until the debentures mature on Jan.
March 14, 1993
Standard Pacific Corp. said Friday that on April 15 it will redeem, at full face value plus accrued interest, all of its outstanding 12.75% and 13.875% subordinated debentures. The diversified home building, financial services and office furniture company said it will use proceeds of its recently completed $100-million offering of 10.5% senior notes to finance the redemption.
August 18, 1992
Foothill Group Inc. said it plans to redeem its 9.5% convertible subordinated debentures due Aug. 15, 2003, as part of its effort to reduce its debt costs. The financial services concern, which has executive offices in Agoura Hills and Los Angeles, said there are $7 million of the debentures outstanding, which will be redeemed Sept. 17. Holders of the debt can convert each debenture into 140.1 shares of Foothill's class A common stock, but debentures not converted on or before Sept.
September 1, 1991
Although I intend to recover losses I have incurred from the closure of Lincoln Savings, I must point out that in my experience, American Continental debentures were never represented as being federally insured. Granted, whenever I came into a Lincoln branch I would practically fall over the huge ads for these debentures, and they were heavily advertised in all the bank statements I received. But I saw nothing that said customers would be buying a CD. In fact, when I called the bank and inquired, I was told plainly what the offering was. The Lincoln story sounds to me like a hard sell with a little deception, a little greed and a lot of confusion.