GOODMAN FIELDER UNIT ISSUES 75 MLN STG CONVERTIBLE
Goodman Fielder U.K. Plc is issuing a 75
mln stg convertible eurobond due July 4, 1997 with an indicated
coupon of five to 5-1/4 pct and par pricing, lead manager
Credit Suisse First Boston Ltd said.
    The issue is guaranteed by Goodman Fielder Ltd and final
terms will be set on, or before, June 5. The issue is callable
at 106 pct declining by one pct per annum to par thereafter but
is not callable until 1992 unless the share price exceeds 130
pct of the conversion price.
    The selling concession is 1-1/2 pct while management and
underwriting each pay 1/2 pct.
    The issue has an investor put option in 1992 which will be
priced to give a yield of approximately 8-3/4 pct. The expected
conversion premium is 20 to 24 pct.
    The issue is available in denominations of 1,000 stg and
will be listed in London. The payment date is June 24 and there
will be a long first coupon period. The conversion period is
from July 4, 1987 until June 26, 1997.
    Over the weekend, Goodman Fielder announced in Sydney that
it had signed for a 100 mln U.S. Dollar composite revolving
euronote issuance facility to be launched in Hong Kong.
 REUTER
