OTHER NEWS - March 28, 1992
From Times Staff and Wire Reports
McDonnell to Offer New Debt: McDonnell Douglas said it will offer $950 million in new senior debt through an underwriter group led by Merrill Lynch. The three-part offering consists of notes due between 1997 and 2012 and at interest rates ranging between 8.625% and 9.75%. Howard Rubel, an aerospace analyst at C. J. Lawrence, Morgan Grenfell, said the new debt will provide a stronger financial underpinning for the firm if it runs into future adversities. He said the new debt will be used at least in part to pay down existing short-term debt. “I give (McDonnell Chief Financial Officer Herbert) Lanise five gold stars for this,” Rubel said.
