ANADARKO PETROLEUM <APC> SELLS CONVERTIBLE DEBT
Anadarko Petroleum Corp is raising 100
mln dlrs via an offering of convertible subordinated debentures
due 2012 with a 5-3/4 pct coupon and par pricing, said sole
manager Kidder, Peabody and Co Inc.
    The debentures are convertible into the company's common
stock at 32.625 dlrs a share, representing a premium of 23.11
pct over the stock price when terms on the debt were set.
    Non-redeemable for two years, the debentures have a
mandatory sinking fund beginning in 1998 calculated to retire
70 pct of the issue prior to maturity, Kidder said.
    Moody's and S and P ratings are pending.
 Reuter
