OCCIDENTAL <OXY> UNIT TO REDEEM DEBENTURES
Occidental Petroleum Corp said its
MidCon Corp subsidiary will redeem on March 31 all 269,000 dlrs
of its outstanding 10-1/4 pct convertible subordinated
debentures due 2009 at 107.18 pct of par.
    It said interest payable March 31 will be paid in the usual
manner to holders of record on March 15.  The debentures
convert to common stock at 14.168319 dlrs per share, or 70.58
shares per 1,000 dlrs principal amount, through March 31.
Holders converting through March 17 will be entitled to receive
Occidental's regular quarterly dividend of 62-1/2 cts per share
on common stock that is payable April 15.
    The company said any holders surrendering debentures for
conversion after March 15, other than those surrendering for
conversion on March 31, will be required to pay to the
conversion agent an amount equal to the interest paytable on
the debentures on March 31.
 Reuter
