C-Cube Message Board - Msg: 2667411

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Technology Stocks : C-Cube

CUBE 36.37

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10:38 AM EST

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To: DiViT who wrote (24953)	11/7/1997 2:06:00 PM
From: BillyG	Read Replies (2) of 50808

LG props up Zenith. Translation: Korean company props up American (shell) company. At least they can pay for STBs................. ZENITH GETS $60M IN CREDIT -- Zenith Electronics Corp. today announced a series of financing transactions meant to enhance liquidity and financial flexibility. The company said it has obtained $60M in unsecured and uncommitted credit facilities through two $30M lines with Bank of America and First Chicago NBD. The credit lines are guaranteed by LG Electronics Inc., Zenith's largest stockholder. As part of this new financing, Zenith is calling its 8.5% senior subordinated convertible debentures due November 2000 with a call date of Dec. 5, 1997, and a call price of 104. The company also plans to call its 8.5% senior subordinated convertible debentures due January 2001 with a call date in January 1998. The current amount outstanding is $23.8M for the debentures due November 2000 and $550,000 for the debentures due January 2001. Zenith, which has posted losses in recent quarters, continues to seek additional financing to support its plans. Zenith Electronics: 847 391-7010.

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