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Strategies & Market Trends : Floorless Preferred Stock/Debenture
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To: Larry Brubaker who wrote (1011)10/29/1999 9:13:00 AM
From: Cathi Wierzbicki  Read Replies (2) of 1438
 
Larry and Zeev:

Do either of you have any familiarity with variable priced equity lines of credit? SCUR now has a 25 million dollar equity credit line which can be accessed (subject to certain terms and limitations) at their discretion. Do the issuers of these credit lines tend to preshort?

According to their CEO, all but 30% of their convertible debentures have been converted. I assume that 30% is likely already hedged. I was beginning to breath a sigh of relief...:-) But, now wonder if this new credit facility has the capacity to be equally toxic.

Thanks for any insight or opinions you may have on this subject.

Cathi
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