LYPHOMED <LMED> SELLS CONVERTIBLE DEBENTURES
LyphoMed Inc is raising 70 mln dlrs
through an offering of convertible subordinatred debentures due
2012 with a 5-1/2 pct coupon and par pricing, said lead manager
Alex Brown and Sons Inc.
    The debentures are convertible into the company's common
stock at 36.25 dlrs per share, representing a premium of 27.75
pct over the stock price when terms on the debt were set.
    Non-callable for two years, the issue is rated BB by
Standard and Poor's Corp. Montgomery Securities co-managed the
deal.
 Reuter
