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Non-Tech : Convertible Bonds

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To: Rocky9 who started this subject10/30/2002 4:17:43 PM
From: Rocky9  Read Replies (1) of 83
 
VPHM bought 23.667M of its debt and reported a gain of $15.203M, so it paid ~35.7 for its bonds. It has $156M of bonds left and $176M of cash and near cash. It must keep buying its bonds, if it can. The YTM is ~38%. Obviously, the market does not think that this company will make it.
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