Inco debentures

A US$150-million issue of Inco’s (TSE) 25-year debentures, which are being sold in the U.S., will carry an interest coupon of 7.75% per year. The debentures are convertible into common shares of Inco at a conversion price of US$38.25 per common share, which represents a 20% premium over the March 14 closing price of US$31.88 on the New York Stock Exchange.