The New York Times

 

NUMBER ONE            WEDNESDAY JULY 15, 1964            PRICE SIXPENCE

         


Control Data Australia Memories compiled by Brian Membrey

Head Office


Control Data Sets Payments

New York Times, 13 June, 1986

CHICAGO, June 12— The Control Data Corporation, the troubled Minneapolis-based computer maker, said today that it had completed the restructuring of its bank debt and had entered into a $125 million receivables purchase agreement with Manufacturers Hanover Bank. Control Data, which was in technical default of its debt obligations to 27 banks, said it would repay about $375 million of the debt by Dec. 31.

Jonathan Fram, a analyst with Bear, Stearns & Company said the restructuring agreement indicated that the banking community thinks that the company's operations are finally beginning to turn around.

Control Data said that it would raise the money through two public debt offerings of about $350 million and that it would also use about half of the proceeds of the $140 million sale of its Ticketron division.

CONTROL DATA FILES TWO SECURITIES ISSUES

New York Times, 10 June, 1986


WASHINGTON, June 9— The Control Data Corporation has filed with the Securities and Exchange Commission for $250 million in senior notes due in 1991 and $100 million of convertible subordinated debentures due in 2011, with underwriters to be led by the First Boston Corporation.

The debentures are convertible into common stock at any time, unless previously redeemed, at a conversion price yet to be determined.

Control Data, which has been plagued by financial difficulties, withdrew a proposed $300 million offering of preferred stock and debt last year. The proceeds of those sales would have paid off defaulted loans.

Control Data's debt issues are rated B-2 by Moody's and B+ by S.&P.