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Non-Tech : Convertible Bonds
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To: Rocky9 who wrote (5)9/5/2002 3:20:45 PM
From: Rocky9   of 83
 
I tried to buy some TERN bonds today. ConvertBond.com had them trading around 60-61. My broker said that the bid was now at 71. Obviously, TERN has had some good news, but not enough (or enough upward movement on the stock) to account for that kind of move. Either the company is back in the market buying the bonds and paying up, or the market is no longer viewing the bonds as nearly as high a risk. I tend to think that it is primarily the better risk idea. If so, repurchase is something that others (SEPR and SFE) should do.
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