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Politics : High Tolerance Plasticity

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To: Winkman777 who wrote (11213)	12/20/2001 10:22:39 AM
From: jim_p	Read Replies (1) of 23153

Looks like a screw job to the common shareholders to me??? Why would you sell $1B in five years notes at 4% which are convertible into 18% of the common, for 0% notes due in 2021 which are not convertible into common. Looks like CPN is betting the farm that the stock will rise above 18.04 long enough to force conversion into equity???? If stock price does not rise, CPN just exchanged 0% notes due in 2021 for 4% notes due in 2006. Can you say desperate? What am I missing? Jim

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