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Dial Issues Notes To Reduce Debt

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By: TOM BRANNA

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Now that it’s officially on the selling block, consumer products maker Dial Corp. has to do something to reduce its debt load if it wants to attract a buyer. The company will do just that, it said today, as it plans to sell $200 million of five-year senior unsecured notes in the next few weeks to pay down bank debt.In a press statement, chief financial officer Conrad Conrad said the note sale is part of Dial’s strategy to boost earnings “with a goal of maximizing value,” ...

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