Mack is offering $103.7 million of a 7.15 percent issue due in 1988, with an average life of six months.

The 7 1/8 percent issue maturing in 2010, which is noncallable for life, was priced at $100.

Meanwhile, the current 8 3/4 percent five-year issue was offered at a price to yield 9.02 percent.

The top yield of 7.274 percent was for the 7 percent issue due in 2022, offered at 96.625.

The 8 7/8 percent issue, a benchmark for other long-term interest rates, traded below 104 early in the day.

By late Friday, the outstanding 9 1/8 percent 10-year issue was offered at a price to yield 7.99 percent.

They can withhold 100 percent over a 1 percent issue.

The 8 1/2 percent issue rose about 18/32d's, to 101, yesterday.

The 12 3/8 percent issue, which matures on May 1, 2020, was priced at $100.

It is the company's second-most-expensive debt, after a 17.375 percent issue due in 2009.