NOBEL/FINANCIERE ROBUR ISSUE FRENCH FRANC BONDS
Nobel and Financiere Robur are issuing
French franc domestic bonds with share warrants, according to
announcements in the Official Bulletin (BALO).
    Nobel is issuing a 200 mln franc 10-year bond with a 5.5
pct coupon in 1,000 franc denominations, to which existing
shareholders will have subscription rights in the ratio of one
bond for every 120 shares held with a nominal 10 franc value.
    The bonds will each carry eight warrants, each giving the
right to subscribe to one 100-franc Nobel share at 140 francs
between June 1 1987 and May 31 1994. Payment date is April 28.
    In a second stage of the operation, the company will issue
3.63 mln new 100-franc nominal shares at a price of 120 francs,
in the ratio of three new shares for 20 existing 10-franc
nominal shares.
    This will take the company's capital to 677.6 mln francs
from the present 242 mln.
    In a separate operation, Financiere Robur is issuing a
147.73 mln French franc eight-year bond with a six pct coupon,
denominated in 1,100 franc units and priced at par.
    Payment date will be April 13 and existing shareholders
will have a preferential right to subscribe to the issue in the
ratio of one bond for every 10 shares held, between March 9 and
March 30 1987.
    Each bond will carry two warrants, each giving the right to
subscribe between January 1 1988 and March 31 1992 to one
Financiere Robur share at a price of 210 francs.
 REUTER
