according to MCM Corporate Watch.

The senior notes are expected to yield between 10 and 10.25 percent and will mature in 2003.

The issue, expected to be priced shortly, is rated Ba3 by Moody's debt rating agency and BB- by Standard & Poor's. The debt offering is being managed by Lazard Freres & Co.

S&P has assigned Sea Containers a BB corporate rating, reflecting the company's position as one of the world's largest container lessors.