NORD EST PLANS 400 MLN FRANC BOND ISSUE

  Financial and industrial holding company
  Nord Est plans to make a convertible bond issue for a total of
  400 mln francs, President Gustave Rambaud said.
      He told a news conference Nord-Est expected to receive
  approval from the Bourse supervisory body COB in the next two
  week, when terms would set according to market conditions.
      He said the issue was meant to boost capital ahead of new
  investments.
      Rambaud said the company would pay a 1986 dividend of 5.25
  francs, unchanged on 1985. Parent company net profit last year
  rose to 99.5 mln francs against 71.1 mln in 1985.
      Provisional consolidated profits were lower at 185 mln
  francs compared with 200 mln in 1985, of which 120 mln, against
  147 mln, was attributable to the group. He said the lower
  profit was mainly due to losses made by steel-tube maker
  Vallourec, in which Nord Est has a 12.5 pct stake.
      Rambaud said he forecast a 1987 parent company net profit
  before provisions of around 135 mln francs.
  

