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Technology Stocks : IRID - Iridium World Communications IPO Announced!
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To: Marty Rubin who wrote (2215)7/28/1999 9:53:00 PM
From: Sober  Read Replies (2) of 2693
 
My summary as I see it, from clips taken from today announcement

...Chase Manhattan Corp. and Barclays Plc organized $800 millions in loans to Iridium. Payment on the loans are currently in a third extension period, which ends Aug. 11.

''I doubt the bondholders will be interested'' in Motorola's proposal, said William Kidd, an analyst at C.E. Unterberg Towbin, who has a ''sell'' rating on Iridium. ''That sounds ludicrous.''

Where do we go from here?

Sober
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