&lt;Peter Miller Apparel Group Inc> saidit signed a letter of intent to issue 2.16 mln dlrs of
convertible debentures, subject to regulatory and board
approvals.
    The company said a newly incorporated merchant banking
subsidiary of Greyvest Financial Corp has agreed to purchase
the debenture issue and closing is expected in April.
    The debenture carries a three year term and is convertible
from April 1, 1987 to March 31, 1989 at 1.35 dlrs a share, and
from April 1, 1989 to March 30, 1990 at 1.50 dlrs a share.
 Reuter
