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Friday, November 20, 1998

World Briefing 

FE NEWS SERVICE  
Dacom Corp plans 100 bn won 3-yr bond issue: South Korea's Dacom Corp has filed to issue 100 billion won in three-year bonds in December, a company official said. The subscription and issuing dates have been tentatively set for November 27 and December 2. The proceeds from the bond offering will be used to redeem bank loans and bonds with high interest rates, the official said. The company hopes to issue the bonds at 45 basis points above the closing yield for three-year corporate bonds on November 26, he said. The telecommunications company's latest issue was 40 billion won worth of three-year bonds on November 16, which were sold at 10.15 per cent. Hanwha Securities is the lead manager.

America Online, Netscape in partnership talks: America Online Inc. and Netscape Communications Corp. are in talks on several new partnerships, including co-marketing agreements and an investment in Netscape by AOL, according to media reports. The talks involving high officials of both companies, which havetaken place over the last two months, are considered fluid and may not produce any new deals, people familiar with the discussions said. Possibilities being discussed range from stronger co-marketing agreements between AOL and Netscape's Netcenter Web site to embedding Netscape's Internet browsers into AOL's online service to an equity investment and a seat for AOL on Netscape's board, the reports said. Both AOL and Netscape declined to comment.

First Bell adopts shareholder rights plan: First Bell Bancorp Inc. said its board adopted a stockholder rights plan with a 10-per cent trigger in which preferred stock purchase rights will be distributed as a dividend at the rate of one right for each share of common stock held at the close of business on November 30. Each Right will entitle stockholders to buy 0.001 of a share of Series A Preferred Stock of the company at an exercise price of $50.00. First Bell Bancorp is the holding company of Bell Federal Savings and Loan Association of Bellevue. A companyspokesman was not immediately available to comment if the adoption was in response to any bids.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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