WITCO <WIT> SELLS CONVERTIBLE DEBT AT 5-1/2 PCT
Witco Corp is raising 140 mln dlrs via
an offering of convertible subordinated debentures due 2012
with a 5-1/2 pct coupon and par pricing, said lead manager
Smith Barney, Harris Upham and Co Inc.
    The debentures are convertible into the company's common
stock at 54.55 dlrs per share, representing a premium of 25.76
pct over the stock price when terms on the debt were set.
    Non-callable for two years, the issue is rated A-3 by
Moody's and A-minus by Standard and Poor's. Goldman Sachs
co-managed the deal, which was increased from an initial
offering of 100 mln dlrs because of investor demand.
 Reuter
