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Biotech / Medical : IVAX, Generic Giant
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To: Charles Holewinski who wrote (167)4/15/1997 12:29:00 AM
From: Charles Holewinski   of 212
 
For all of you who still believe that IVAX will come out of their problems. There is another way to play the IVAX story and get paid while you are waiting. IVAX has convertible bonds. They are not listed so you will have to ask your broker to get them. There is a 6.5% bond which is due in about three years and currently sells for about $820 per bond. That is 7.9% return while you wait and a nice $180 bond profit when the bond matures if IVAX is still arround then. Of course if some other stronger company takes IVAX over before then, the bonds would go to par or better overnight. Just a thought which might work out nice. Of course if IVAX does go under the bond holders would get paid off before the common stock holders.
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