AMERICAN CAN <AC> SELLS CONVERTIBLE EUROBONDS
American Can Co said it is issuing in
the Euromarkets 175 mln dlrs of convertible Eurodollar bonds
due 2002 with a 5-1/2 pct coupon and par pricing.
    The Eurobonds are convertible into the company's common
stock at 66.75 dlrs per share, representing a premium of 27.5
pct over today's closing stock price, American Can said.
    Proceeds will be used for general corporate purposes, which
could include refinancing outstanding debt, business
acquisitions or investments. The debt is being offered via a
syndicate managed by Morgan Stanley International, Credit
Suisse First Boston and Salomon Brothers International.
 Reuter
