Thermo Electron calls 4% convertibles

New York, July 7 - Thermo Electron Corp. said it will redeem its 4% convertible subordinated debentures due 2005 originally issued by Thermo Instrument Systems Inc.

The Waltham, Mass. instrument company will redeem the securities at par plus accrued interest on July 31.

Currently there are $197.0 million of the convertibles outstanding.

They convert into Thermo Electron stock at $35.77 per share. Thermo Electron stock closed at $21.89 Monday.

Pogo Producing completes redemption of 5½% convertibles

New York, July 7 - Pogo Producing Co. said it completed the redemption of its $115 million 5½% convertible subordinated notes due 2006.

The Houston oil and natural gas exploration and production company issued one million shares and paid $74 million in cash.

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