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Technology Stocks : Zenith - One and Only -- Ignore unavailable to you. Want to Upgrade?

To: Terry Berg who wrote (3365)	11/5/1997 2:36:00 PM
From: Robert Utne	Read Replies (1) \| Respond to of 6570

New Financing... GLENVIEW, Ill., Nov. 5 /PRNewswire/ -- Zenith Electronics Corporation (NYSE: ZE) today announced a series of financing transactions that will enhance the company's liquidity and financial flexibility. The company said it has obtained a total of $60 million in unsecured and uncommitted credit facilities through two $30 million lines of credit with Bank of America and First Chicago NBD (NYSE: FCN). 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 percent 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 percent senior subordinated convertible debentures due January 2001 with a call date in January 1998. The current amount outstanding is $23,750,000 for the debentures due November 2000 and $550,000 for the debentures due January 2001. The company continues to seek additional financing to support its plans.