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Non-Tech : Convertible Bonds
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To: Rocky9 who started this subject9/2/2002 11:46:03 AM
From: Rocky9  Read Replies (1) of 83
 
TERN has been buying its converts in the open market for over a year. It had issued $500M, and now has bought back over $400M, at prices of 50 or lower. It still has significant cash and is announcing new business. But it is losing money with no end in sight. Last week the stock was up nicely on new business. I haven't checked where the bond is now. The risk would seem very low to me.
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