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Technology Stocks : Advanced Micro Devices - Moderated (AMD)
AMD 231.83+1.7%Jan 16 9:30 AM EST
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To: TigerPaw who wrote (68707)1/23/2002 7:21:11 PM
From: chuckles58Read Replies (3) of 275872
 
At rate of 4.25 - 4.75% coupon, the $500M convertible debt would add around $24M in additional interest expense each year. I think the $400M debentures they called/converted in spring 2001 had around $40M in interest. Sounds like a good trade, except for potential dilution of common if the new debt is converted to common.

After hours market didn't like the news, down $.70 from $16.70 to $16.00.

CB
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