BellSouth Corp’s BellSouth Telecommunications Inc is to redeem $300m principal amount of its 8.5% debentures due August 1 2029, which were issued by Southern Bell Telephone & Telegraph Co. Redemption, for 103.68% of face value plus interest, will take place on December 27, the phone company said.
Secure Computing Corp, Roseville, Minnesota got its offering of 2m shares, all but 50,000 of them new, away at $16.00 per share. Secure, which develops and provides products designed to protect an organisation’s computer network and computers from access by unauthorised users, wants the $30m or so net proceeds for buying additional capital equipment and for working capital. Underwriters were led by Piper Jaffray Inc and Robertson, Stephens & Co LP.
