AT&T Capital Corp, 86% owned by AT&T Corp, filed a shelf registration with the US Securities & Exchange Commission to offer up to $3,000m in debt securities, debt warrants, currency warrants, index warrants and interest rate warrants, and will use the cash to buy receivables from other AT&T affiliates and from unaffiliated firms, to finance installment sale and lease agreements and repay debt.
Project Software & Development Inc, Cambridge, Massachusetts got its offer of 1.8 shares, 1m new, away at $21 each to raise some $19m in working capital. Robertson Stephens & Co, Montgomery Securities, and First Albany Corp underwrote the offering.
Raytheon Co finally issued $1,125m in its two-part deal, where it had been going for only $750m and only put it up to $1,000m on Wednesday. The first tranche is for $750m in notes due July 15 2005, with a 6.50% coupon, priced at $99.42% to yield 6.58% and is non-callable for life. The second tranche is for $375m in debentures due July 15 2025, with a 7.375% priced at $98.386% to yield 7.511% and is non-callable for 10 years. Proceeds will repay debt incurred through the E-Systems Inc acquisition. Lead manager was C.S. First Boston.
StorMedia Inc, Santa Clara, California disk platter maker, filed with the US Securities & Exchange Commission to offer 2.6m shares of Class A common shares, 1.6m of them new. The company plans to use the indicated $60m-plus proceeds capital expenditures, primarily for its new manufacturing plant in Singapore for making platters for Seagate Technology Inc. No underwriters were named for the issue.
