EMCO SETS 75 MLN DLR DEBENTURE OFFERING
<Emco Ltd> said the board approved a
public offering of 75.0 mln dlrs principal amount of 7-1/4 pct
convertible subordinated debentures, maturing April 30, 2002,
subject to regulatory approvals.
    The debentures will be convertible into common shares at
any time up to April 30, 1992 at a price of 17.50 dlrs a share,
and then up to April 30, 1997 at 18.50 dlrs a share.
    Masco Corp <MAS>, holding 44 pct of Emco, has agreed to
purchase 33.0 mln dlrs of the debentures. Underwriters are
Gordon Capital Corp, Midland Doherty Ltd, Merrill Lynch Canada
Inc and Levesque Beaubien Inc.
 Reuter
