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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 244.25-2.0%Nov 12 3:59 PM EST
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To: Jan Crawley who wrote (92868)2/2/2000 11:55:00 PM
From: Glenn D. Rudolph   of 164684
 
Jan,

For what it is worth, AMZN still has $500 million in junk bond dept that is not convertable that was done in the spring of 1998. They are zero coupon bonds and I believe interest begins on thise in 2005. I would have to look up the exact year. I show about 90% of the 1999 spring convertable already in the float.

I doubt bond buyers will go for a zero coupon again and in fact, I am inclined to believe a direct secondary is what will occur and very soon. At the current burn rate, the remaining $100 million will be gone by April except there will still be money in the coffers only due to accounts payable that are yet unpaid. A few months after April Amazon will be deliquent in paying their bills without raising cash.
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