BellSouth Corp issued $300m in 7.0% debentures due October 1 2025 and non-callable for seven years, at $99.273% via Morgan Stanley & Co as lead manager.
GTE Corp filed a shelf registration with the US Securities & Exchange Commission covering up to $900m in debt securities, taking the total available for issue to $1,500m. Net proceeds will be used to repay short-term debt, which at August 31 was $733m, and for further investments in or advances to subsidiaries to finance their operations.
Gilat Satellite Networks Ltd, Tel Aviv got its offer of 2m ordinary shares, 1.685m of them new, away at $25 per share and wants the cash for development of new very small aperture satellite earthstations. The underwriters were Goldman, Sachs & Co, Oppenheimer & Co Inc and Furman Selz Inc.
Memory Corp Plc reports that it raised ú5.04m before expenses with a placing of 1.2m new ordinary shares at ú4.20 per share. The maker good of dud memory chips will use the proceeds to fund capital expenditure and working capital. The shares were placed with clients of Henry Cooke, Lumsden Plc.
