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October 27, 1995

SHARE & BOND ISSUES

By CBR Staff Writer

BellSouth Corp’s BellSouth Telecommunications Inc subsidiary has filed a shelf registration with the US Securities & Exchange Commission to offer up to $1,000m in debt securities. The telephone operating company said that when this is combined with previous registrations, it will have up to $1,400m available to be drawn down to raise cash to refinance its debt and also for working capital.

IBM Corp raised $750m before expenses in a two-part issue of debentures. The first tranche was $600m of 7% debentures due October 30 2025 priced at $99.54% to yield 7.037%; the second tranche was for $150m of 7% debentures due October 30 2045, priced at $98.14% to yield 7.137%. Both tranches are noncallable for life. The proceeds are to be used for working capital and Merrill Lynch & Co was designated as lead manager for the debenture sale.

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