Incyte (INCY) Message Board

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Biotech / Medical : Incyte (INCY)

INCY 108.19

0.0%

10:33 AM EST

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To: opalapril who wrote (1463)	5/19/2000 1:35:00 PM
From: Lighthouse	Read Replies (1) of 3202

I am no expert on this issue, but to the best of my understanding: Bowie issued a bond to investors with a face amount of $50 or $55 million. Bowie received the proceeds of the offering. The bonds are backed by the royalty revenue of his recordings. Bowie gets cash now, buyers of the bond get an interest rate and the collateral of the bond is the future royalties on Bowie's songs. My sense is Whitfield was floating a "trial balloon" to see the market's reaction. Whitfield categorized the royalty stream as non strategic to INCY's future. In one sense this is true on another sense I am unsure. I have asked Peter Suzman on the "Biotech Valuation" thread for his opinion as to this potential spin off. I am awaiting his response. Hope this helps, Cheers,

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