BORAL TO RAISE 100 MLN DLRS BY NOTES ISSUE
Building materials group Boral Ltd
<BOAL.S> said it will raise 100 mln Aus dlrs by placing 20 mln
7.5 pct convertible notes with institutions at 5.00 dlrs each.
    The proceeds will refinance existing group liabilities, it
said in a statement.
    Interest will be payable over the next five years in
half-yearly instalments on February 28 and August 31.
    Boral said the notes will be convertible into ordinary
shares on a one-for-one basis on the same dates in 1989, 1990
and 1991 and 1992. Unconverted notes will be repaid at par on
February 28, 1992.
 REUTER
