RELIANCE ELECTRIC UNIT TO REDEEM DEBENTURES
Reliance Electric Co said its Reliance
Industrial Co unit will redeem on April 10 all outstanding
7-1/4 pct debentures due 1996 and 9-5/8 pct debentures due
1994.
    Reliance Industrial will buy back the 7-1/4s at 101 plus
accrued interest and the 9-5/8s at 102.344 plus accrued
interest.
    Reliance Electric was a unit of Exxon Corp <XON> until
December 30, 1986, when a group of investors took the company
private in a leveraged buyout, a Reliance spokesman said.
 Reuter
