Floorless Preferred Stock/Debenture Message Board

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Strategies & Market Trends : Floorless Preferred Stock/Debenture

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To: Rajiv who wrote (1350)	12/19/2001 11:40:05 PM
From: Roger A. Babb	Read Replies (1) of 1438

Rajiv, I stand corrected. I re-read the CPN press release and you are correct that the put option is not for this convertible issue but for the earlier issue. The put option was mentioned because one of the purposes of the new issue is to create liquidity to meet the put option on the earlier issue. My mistake, this is not as bad a convertible as I first thought, in fact does not look at all toxic after further study.

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