Thermo Electron Corp is raising 75 mlndlrs via an offering of convertible subordinated debentures due
2012 with a 5-3/4 pct coupon and par pricing, said lead manager
Shearson Lehman Brothers Inc.
    The debentures are convertible into the company's stock at
30.50 dlrs per share, representing a premium of 25.77 pct over
the stock price when terms on the debt were set.
    Non-callable for two years, the issue is rated Ba-3 by
Moody's Investors and BB by Standard and Poor's. Drexel Burnham
and Tucker Anthony co-managed the deal.
 Reuter
