HOKKAIDO BANK ISSUES 30 MLN DLR CONVERTIBLE BOND
The Hokkaido Bank Ltd is issuing a 30 mln
dlr convertible eurobond due March 31, 2002 with an indicated
2-1/4 pct coupon and priced at par, lead manager Nomura
International Ltd said.
    Terms will be fixed on March 10, involving a premium of
about five pct above a six-day average. The conversion period
will run from April 20, 1987 to March 20, 2002.
    The bonds will be sold in denominations of 5,000 dlrs and
will be listed in Luxembourg. Total fees of 2-1/2 pct include
one pct for management and underwriting and 1-1/2 pct for
selling, including an 20 basis point praecipuum.
    Nomura said the bonds are callable from March 31, 1990 at
104, declining by 1/2 pct per annum.
    There will be no calls before March 31, 1992 unless the
share price reaches at least 150 pct of the conversion price.
 REUTER
