Bio-Technology General Corp. Tuesday said it will make cashinterest payments on its Series A and Series B senior securedconvertible notes.
Interest payments had been made in shares of common stock(NASDAQ:BTGC), but the New York company said its "improvedfinancial condition," which included cash and cash equivalentsof $9.7 million as of June 30, enabled the switch.
Outstanding principal of the Series A 7.5 percent notes, dueJan. 15, 1995, is $868,000. The Series B 11 percent notes, dueOct. 15, 1998, have $953,000 in principal outstanding.
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