SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : KERM'S KORNER
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Kerm Yerman who wrote (8933)2/10/1998 7:55:00 PM
From: Arnie   of 15196
 
FINANCING / Wainoco Oil Corp announces Debt Redemption

HOUSTON, Feb. 10 /CNW/ -- Wainoco Oil Corporation (NYSE: WOL)
announced today that it has called for redemption all remaining $24.8 million
of its 12 percent Senior Notes due 2002 and all $46 million of its 7-3/4
percent Convertible Subordinated Debentures due 2014. The Company intends to
fund the redemptions with the proceeds from a recently-completed private sale
of $70 million of 9-1/8 percent Senior Notes due 2006 and other cash of the
Company.

The 12 percent Senior Notes will be redeemed at a price of 103.43 percent
plus accrued interest and the redemption date is March 12, 1998.

The 7-3/4 percent Convertible Subordinated Debentures will be redeemed at
a price of 101.55 percent plus accrued interest and also have a redemption
date of March 12, 1998. The Convertible Debentures called for redemption may
be converted into common shares of Wainoco at the price of $8.75 per share at
any time prior to the close of business on March 12, 1998. Wainoco previously
announced that its Board of Directors has authorized a stock repurchase plan
under which the Company would be authorized to purchase the approximate number
of shares issued upon conversion of its Convertible Debentures.

Wainoco Oil Corporation conducts crude oil refining and wholesale
marketing of refined products through its Frontier subsidiaries on the eastern
slope of the Rocky Mountains. Wainoco's common shares are listed on the New
York Stock Exchange under the symbol "WOL".
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News