May Department Stores Co is raising 100mln dlrs through an offering of debentures due 2017 with a
9-7/8 pct coupon and par pricing, said lead manager Morgan
Stanley and Co Inc.
    That is 129 basis points more than the yield of comparable
Treasury securities.
    Non-refundable for 10 years, the issue is rated Aa-3 by
Moody's and Aa-minus by Standard and Poor's. The gross spread
is 8.75 dlrs, the selling concession is 5.50 dlrs and the
reallowance is 2.50 dlrs. E.F. Hutton co-managed the deal.
 Reuter
