OHIO MATTRESS <OMT> TO SELL CONVERTIBLE DEBT
Ohio Mattress Co said it filed with the
Securities and Exchange Commission registration statements
covering a 75 mln dlr issue of convertible subordinated
debentures due 2012 and an offering of four mln shares of
common stock.
    Proceeds will be used to reduce floating-rate bank debt
incurred in connection with the acquisition of 82 pct of Sealy
Inc through the purchase of seven Sealy licensees in December
1986 for 262 mln dlrs in cash, Ohio Mattress said.
    The company named Lazard Freres and Co as lead underwriter
of the offerings.
 Reuter
