POPE AND TALBOT <POP> SELLS CONVERTIBLE DEBT
Pope and Talbot Inc is raising 40 mln
dlrs via an offering of convertible subordinated debentures due
2012 with a six pct coupon and par pricing, said sole manager
Bear, Stearns and Co.
    The debentures are convertible into the company's common
stock at 51.875 dlrs per share, representing a premium of 25
pct over the stock price when terms on the debt were set.
    Non-callable for two years, the debentures are rated Ba-3
by Moody's and BB-minus by S and P. The issue was increased
from an initial offering of 35 mln dlrs.
 Reuter
