INTl AMERICAN HOMES <HOME> TO SELL CONVERTIBLES
International American Homes Inc said it
filed on May 29 with the Securities and Exchange Commission a
registration statement covering a 25 mln dlr issue of
convertible subordinated debentures due 2007.
    Proceeds will be used to finance the proposed acquisition
of Diversified Shelter Group Ltd and affiliated entities and to
retire acquisition indebtedness, International American said.
    The company said Moseley Securities Corp would underwrite
the offering.
 Reuter
