Financial holding company Nord-Est isissuing a 392.9 mln franc, 6.25 pct, five year domestic bond
convertible into shares, an announcement in the Official
Bulletin (BALO) said.
    From March 26 to April 8, subscription for 1.63 mln of the
1.64 mln bonds of 240 francs nominal each will be reserved for
shareholders holding 13.09 mln shares of 50 francs nominal,
representing the company's capital of 654.85 mln francs, on the
basis of one bond for eight shares held.
    The bonds will be exchangeable from July 1 for shares on a
one for one basis.
 REUTER
