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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: mishedlo who wrote (209521)12/13/2002 4:29:50 PM
From: cfimx  Read Replies (1) of 436258
 
When these companies issued the converts, they thought their stocks would be going to da moon. So they could then convert this debt into equity and be rid of the interest payments. The problem now is that the stocks are down with no chance to convert the debt. These folks are now stuck paying the interest, and soon the principal, which is the big problem. Some of the bonds will be coming due soon and the companies never expected they would have to deal with how to pay the principal on these things.
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