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THERMO INSTRUMENT SYSTEMS INC. ANNOUNCES SALE OF CONVERTIBLE DEBENTURES IN EUROPE

 WALTHAM, Mass., Sept. 8 /PRNewswire/ -- Thermo Instrument Systems Inc. (AMEX: THI) announced today that it has entered into an agreement to sell in Europe at par $60 million of 3 3/4 percent senior convertible debentures due 2000. The debentures will be convertible into shares of common stock at a price of $31 3/4. The company has also granted to the managers of the offering an over-allotment option to purchase an additional $9 million principal amount of debentures. Lehman Brothers International (Europe) and NatWest Securities Limited are acting as lead managers. The debentures have not been registered under the Securities Act of 1933 and, subject to certain exceptions, may not be offered in the United States or to U.S. persons. In a separate transaction to take place on the date the debentures are issued, Thermo Electron Corporation (NYSE: TMO), the company's parent, will purchase from the company $140 million of senior convertible notes due 2000 with the same interest rate, conversion price, and other principal terms as the debentures.
 Thermo Instrument Systems develops, manufactures, and markets analytical instruments used to detect and monitor air pollution, radioactivity, complex chemical compounds, and toxic metals and other elements in a broad range of liquids and solids. The company also provides environmental science and engineering services, laboratory- based testing, and nuclear health physics services. Thermo Instrument Systems is a public subsidiary of Thermo Electron Corporation.
 These securities have not been registered under the United States Securities Act of 1933. Accordingly, subject to certain exceptions, these securities may not be offered or sold directly or indirectly in the United States of America, its territories or possessions, or to any person who is a citizen, national or resident thereof or to other for offering or resale in the United States or to any such person.
 -0- 9/8/93
 /CONTACT: John Hatsopoulos of Thermo Electron, 617-622-1111/
 (THI TMO)


CO: Thermo Instrument Systems Inc.; Thermo Electron Corp. ST: Massachusetts IN: ENV SU:

DJ -- NE005 -- 9636 09/08/93 08:51 EDT
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Publication:PR Newswire
Date:Sep 8, 1993
Words:336
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