ALZA CORP ISSUES 75 MLN DLR CONVERTIBLE BOND
Alza Corp <AZA>, a U.S. Pharmaceutical
products concern, is issuing a 75 mln dlr convertible eurobond
due May 8, 2002 with an indicated coupon of 5-1/2 to 5-3/4 pct
and par pricing, lead manager Merrill Lynch Capital Markets
said.
    The bond is available in denominations of 1,000 and 10,000
dlrs and will be listed in Luxembourg.
    Fees comprise 1-1/2 pct selling concession and 1/2 pct
management and underwriting combined. The conversion premium is
indicated at 17 to 22 pct. Final terms will be fixed before
April 21.
 REUTER
