FREEPORT-MCMORAN <FTX> TO OFFER PREFERRED
Freeport-McMoRan Inc said it has
filed for a proposed public offering of 10 mln shares of
convertible exchangeable preferred stock with a liquidation
value of 25 dlrs per share.
    The company said it intends to use the proceeds to repay
debt incurred in connection with the acquisition of Petro-Lewis
Corp and shares of American Royalty Trust <ARI>.
    <Kidder, Peabody and Co Inc> is lead underwriter.
 Reuter
