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Non-Tech : Convertible Bonds

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To: Rocky9 who started this subject	10/19/2002 2:32:45 PM
From: Rocky9	Read Replies (2) of 83

Very little change in prices recently. Even with the big swings in the price of the common (at least in percentage terns), most of the converts are still about the same (although CPN continues down with the common). Here are some of the quotes from convertbond.com, along with the YTM: ANAD - 52.125 24.14% CPN - 36.375 60.17% ICGE - 35.0 65.94% PMCS - 64.25 16.83% RFMD - 78.0 13.52% SFE - 57.75 22.6% SEPR '07 - 49 24.97% SEPR '06 - 54.375 23.93% SEPR '05 - 76.125 17.13% TERN - 60.0 17.77% TQNT - 77.125 10.70% VTSS - 72.0 19.20% Of the companies that have announced earnings (RFMD and PMCS), none have announced any buybacks. It will be interesting to see if any of the other companies announce anything - especially those in the worst shape, like ICGE and CPN. Also, TERN, SEPR, TQNT, and ANAD have already announced earlier buybacks and may have done more. TWT. The PMCS bond still looks attractive to me. I may swithch some of the SEPR '05 bond for it if I can get around the same YTM.

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