RJR Nabisco Tries to Reduce Debt: RJR...
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From Times Staff and Wire reports
RJR Nabisco Tries to Reduce Debt: RJR Nabisco Holdings Corp. said it will offer cash and stock in exchange for more than $750 million in costly junk bonds as part of an expanded effort to lower the food-tobacco conglomerate’s debt load. RJR Nabisco, taken private in a record $24.53-billion leveraged buyout last year, has been reducing its most expensive debt to try to avoid finance problems that have plagued other heavily indebted companies.
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