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Technology Stocks : Spansion Inc.
CY 23.820.0%Apr 16 5:00 PM EST
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To: Petz who wrote (215)6/6/2006 5:24:29 PM
From: TimF   of 4590
 
If SPSN had better cash flow and profitability it would make sense to call the bonds. 12.75% interest is pretty high in general, although perhaps not to a new company (even if the business is not new) that has not been profitable.

If we incur any judgment for the payment of money in an aggregate amount in excess of $50 million

I don't know of any major lawsuit against SPSN, but if it ever should have to pay out tens or hundreds of millions of dollars in a settlement and at the same time have to pay back $175 million from these notes that would hit SPSN's cashflow in a major way, although probably not to the point of bankruptcy as SPSN's current assets are supposedly $1,672,842,000 and current liabilities are supposed to be $790,940,000.

finance.yahoo.com
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