SPENDTHRIFT FARM <SFI> TO MISS NOTE PAYMENT
Spendthrift Farm Inc said it
will miss the 1,875,000 dlr March 16 interest payment on its 30
mln dlrs of 12.5 pct senior subordinated notes due 1994.
    It said it is currently holding talks with its creditors
about a possible debt restructuring. The company said it
expects to finalize an agreement before the end of the 30 day
grace period on April 14. If it fails to make an agreement by
that date, it will default on the notes.
    The company also said it is holding talks with its bank
creditors and expects a restructuring agreement soon.
 Reuter
