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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 233.95

+0.3%

3:59 PM EST

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To: Oeconomicus who wrote (124067)	4/24/2001 7:27:09 PM
From: Glenn D. Rudolph	Read Replies (3) of 164684

For the record, I predicted on this thread back when AMZN issued its first big chunk of debt ($1.25 billion some time in '98, I think) that the debt holders would eventually own all of AMZN. Glenn may recall that. If I recall correctly, principal starts coming due in 2003, right? Bob, I recall your comment well about the debt holders. Actually, the original $1.25 billion was zero coupon and I believe no principal need be paid for 10 years. I stopped looking out that far because my opinion is the next bond offering they did in 1999 will terminate them way prior to 2003 or 2008. I may take a look at the 1998 bond offering just out of curiosity. The $700 million issued in 1999 is not zero coupon and does have principal starting 2003 which may be where you arrived at that date. The bond offering was not as advantageous for Amazon in 1999. That has interest of $90 million paid in two annual installments of $45 million. That is a near term problem.

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