A $105 million issue of 14 percent subordinated debentures due 2001 is priced at 100.

The 11 5/8 percent debentures were priced at $100, or par.

The company's 12.75 percent debentures due in 1997, which are the most senior bonds, fell $6, to $20, for each $100 of face value.

The remaining $125 million of the issue was offered as 30-year 8 1/2 percent debentures.

The company said yesterday that it would not make the interest payment on 17.5 percent debentures due 2004.

The 13 3/4 percent debentures climbed $2, to $60.50 for each $100 of face value.

Its 17 1/2 percent debentures, due in 2004, closed at $28.25 per $100 of principal, up $1.75.

Its 13.75 percent debentures due in 2000 rose to an offered price of 27, from 24.

The new offer would pay $29 in face amount of 12 percent debentures due in 2008.

The company's 10 7/8 percent debentures due 2010 rose $2.50, to close at $84.50.