Burroughs detailed its Sperry merger debt plan.

The Detroit-based computer maker said it intends to issue 60% preferred stock and 40% subordinated debt in exchange for Sperry common stock in the second step of the merger. Each common share of Sperry would be converted into $30.60 principal amount of Burroughs 9.75% subordinated debentures and 0.918 of a share of Burroughs Series A convertible preferred stock.