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Non-Tech : FTL- Fruit of the Loom
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To: epicure who started this subject8/29/2001 9:43:29 AM
From: Clement   of 161
 
FYI - here's some data on FTL's high yield bonds. For those of you who aren't as familiar with bankruptcy proceedings, the bonds are due in full because of default. In the event that the probability is high that they would be repaid, the bid would be close to 100 (less the time value of money). In the event that either the probability is low or the expected time of the return is far away, the number drops.

If the bond holders do not get their money back (100%), it is unlikely that the shareholders would get anything. As it stands, the current restructuring plan provides that the shareholders get nothing.


ISSUER: DOW JONES CORPORATE FILINGS ALERT HIGH-YIELD STORIES SYMBOL: X.HYI
HIGH YIELD, BANKRUPT BOND PRICE INDICATIONS  (8/27/01)

ISSUER             DESCRIPTION         BID            CLOSING  
*Fruit of the Loom  7% Nts-11           34.625          --- 

High Yield Bond Price Indications for the Week Ended 8/23/01 
*Fruit of the Loom       7% Nts-11           34.625         -0.375



Clement
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