Sequent Computer Systems Inc has completed a $20m private placing of convertible debentures and says that the proceeds will be used to repay bank debt and for working capital. The Beaverton, Oregon-based manufacturer of symmetric multiprocessors says the cash gives it greater financial flexibility at a time when its business is beginning to improve. The […]
Sequent Computer Systems Inc has completed a $20m private placing of convertible debentures and says that the proceeds will be used to repay bank debt and for working capital. The Beaverton, Oregon-based manufacturer of symmetric multiprocessors says the cash gives it greater financial flexibility at a time when its business is beginning to improve. The 7.5% debentures due 2000 are initially convertible into common at $15.8125 a share. The placing was handled for Sequent by Cowen & Co.
