GUILFORD MILLS <GFD> SELLS CONVERTIBLE DEBT
Guilford Mills Inc is raising 75 mln
dlrs via an offering of convertible subordinated debentures due
2012 with a six pct coupon and par pricing, said sole manager
Bear, Stearns and Co.
    The debentures are convertible into the company's common
stock at 44.25 dlrs per share, representing a premium of 25.08
pct over the stock price when terms on the debt were set.
    Non-callable for two years, the debt is rated Ba-1 by
Moody's and BBB-minus by Standard and Poor's. The issue was
increased from an initial offering of 60 mln dlrs because of
investor demand.
 Reuter
