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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine) -- Ignore unavailable to you. Want to Upgrade?

To: Bruce R. Schlake who wrote (539)	12/21/1997 4:33:00 PM
From: arizona_ice_tea	Read Replies (1) \| Respond to of 2282

Press release as of 12/16/97 GLM said its 4Q result will reflect an ,extraordinary" $ 6.9 million pretax charge related to an early note redemption. Analysts had previously predicted the company would earn $ 0.47 per share in the fourth quarter., up from $0.23 a year earlier, according to a consensus forecast by First Call. The premium will be quickly offset by the company's reduced cost of funding. This completes the financial restructuring made possible by our investment grade status. The Offshore Drilling contractor redeemed the entire $224 million of outstanding 12.75 Senior Secured Notes due 1999 at a price equal to 102 % of principal plus accrued interest.