FIELDCREST CANNON <FLD> TO SELL CONVERTIBLE DEBT
Fieldcrest Cannon Inc said it filed
with the Securities and Exchange Commission a registration
statement covering a 100 mln dlr issue of convertible
subordinated debentures.
    Proceeds will be used to reduce outstanding bank debt under
the company's revolving credit agreement, Fieldcrest Cannon
said.
    The company named Kidder, Peabody and Co Inc as lead
underwriter of the offering.
 Reuter
