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Technology Stocks : Winstar Comm. (WCII)

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To: MangoBoy who wrote (11873)	3/27/2000 10:01:00 AM
From: MangoBoy	Read Replies (1) of 12468

[Winstar sells $1.6 bln equivalent notes] NEW YORK, March 27 (Reuters) - Winstar Communications Inc. on Friday privately sold about $1.6 billion of notes in a four-part deal in the Rule 144a market through Credit Suisse First Boston and Salomon Smith Barney, market sources said. The size of the deal was reduced from an original $2.0 billion equivalent. The four tranches listed below had originally been expected to total $300 million of eight-year senior notes, 250 million euros plus $1.0 billion of 10-year senior notes, and $450 million of 10-year senior discount notes. The respective yields had been expected to be 11.875 to 12.125 percent for Winstar's eight-year notes, 12.25 to 12.50 percent for its 10-year notes, and 14.25 to 14.50 percent to maturity for its discount notes. Earlier, the expected yields had been 11.25, 11.75 and 13.75 percent, respectively. BORROWER: WINSTAR COMMUNICATIONS INC. TRANCHE 1 AMT $325 MLN COUPON 12.5 PCT MATURITY 4/2008 TYPE SNR NOTES ISS PRICE 100.00 FIRST PAY DATE 10/2000 LAST MOODY'S B3 YIELD 12.5 PCT PAY FREQ SEMI-ANNUAL LAST S&P B-MINUS SPREAD 631 BPS NOT CALLABLE OVER TREASURIES TRANCHE 2 AMT 200 MLN EUROS COUPON 12.75 PCT MATURITY 4/2010 TYPE SNR NOTES ISS PRICE 100.00 FIRST PAY DATE 10/2000 LAST MOODY'S B3 YIELD 12.75 PCT PAY FREQ SEMI-ANNUAL LAST S&P B-MINUS SPREAD 750 BPS 5-YR NOT CALLABLE OVER GERMAN BUNDS TRANCHE 3 AMT $635 MLN COUPON 12.75 PCT MATURITY 4/2010 TYPE SNR NOTES ISS PRICE 100.00 FIRST PAY DATE 10/2000 LAST MOODY'S B3 YIELD 12.75 PCT PAY FREQ SEMI-ANNUAL LAST S&P B-MINUS SPREAD 656 BPS 5-YR NOT CALLABLE OVER TREASURIES TRANCHE 4 AMT $450.708 MLN COUPON N/A MATURITY 4/2010 (PROC), $920 MLN (FACE) TYPE SNR DISC ISS PRICE 48.990 FIRST PAY DATE 10/2005 NOTES LAST MOODY'S B3 YTM 14.75 PCT PAY FREQ SEMI-ANNUAL LAST S&P B-MINUS SPREAD 856 BPS 5-YR NOT CALLABLE OVER TREASURIES

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