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Non-Tech : Amresco [AMMB]
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To: KZAP who wrote (145)10/11/1999 2:16:00 PM
From: mortwald  Read Replies (1) of 218
 
I think I must be missing something. This company has a 10% bond due in 2003 selling for 61 1/2 last trade for a current yield of 16%. and a 62% capital gain if they pay off in four years. I think the issue is only 50 million, with bonds due in 2004 and 2005 totaling 482 million. The company currently makes money, and it's hard to believe they will default on such a relatively small amount. It seems to me the play is in the bonds, not the stock.
...........................mort
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