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Technology Stocks : Micron Only Forum

MU 263.78

+4.5%

Dec 10 3:59 PM EST

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To: John Graybill who wrote (47217)	7/23/1999 3:17:00 PM
From: John Graybill	Read Replies (1) of 53903

Looks like folks bought up the convertibles after the July 21-22 mini-toutfest (perhaps in anticipation of next week's tout-fest as well?). They're not buying them in anticipation of the return of their original capital, are they? (Are people really paying 110 for these things!? To (maybe) get 6.3% from Micron, when 30-year T-bills give you 6%?) Or does the bond-holder of record on 1/1/2000 get all two years of interest? Seems like they should. If MU coughs it up, that's two years worth of interest in less than six months. (And, ironically, exactly the opposite deal that the guy he bought the bond from has been resigned to ever since he read the fine print, har har.) And/or they're betting on a forced conversion at $87. --------------- Micron Technology leads convert market higher By ConvertBond.com, CBS MarketWatch Last Update: 6:30 PM ET Jul 22, 1999 NEW YORK (CBS.MW) -- Technology issues led the convertible bond market higher on Wednesday. Micron Technology (MU: news, msgs) led the ConvertBond.com 20 Index on the upside. The 7 percent convert maturing in 2004 closed at the 109 to 110 level with with a conversion premium of 41.1 percent. The convert features a "B" rating from Standard & Poor's and a "B2" rating from Moody's Investors Service. cbs.marketwatch.com That site looks like a nice resource. It's ten bucks a month, but it has a free section with a little "story of the day" feature that might catch MU action from time to time. I'm just going to add it to my "check every day!" list. convertbond.com

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