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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 171.54

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To: Craig Schilling who started this subject	12/5/2001 12:50:28 PM
From: Ruffian	Read Replies (4) of 152472

Gotta Love-It; Report: Cingular To Pay Higher Debt Premium BY KRISTY BASSUENER DECEMBER 5, 2001 Cingular Wireless' upcoming $2 billion bond sale this week will come with a heftier premium from investors, according to Bloomberg. Cingular spokesman Peter Nilsson would not comment on the sale, expected to be the week's largest U.S. debt offering, pointing out the company was in a quiet period on the issue. Analysts say that Cingular will pay about 3 percentage points more than Treasuries on its five, 10 and 30-year securities -- more than twice the 1.25 percent premium that might have be assigned to a similar sale last year, the report says. Likely Cingular's announcement to spend around $3 billion on GSM upgrades to its current network and EDGE buildout for next-generation services has investors spooked, and wanting more payback for the risks of buying Cingular debt. Last week, Moody's Investors' Service dropped its Cingular rating one notch to A3. Cingular Wireless is a joint venture of SBC Communications and BellSouth Corp. and is not publicly traded under its own name.

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