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Biotech / Medical : Sepracor-Looks very promising
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To: Icebrg who wrote (6922)6/3/2003 7:57:19 AM
From: Icebrg  Read Replies (1) of 10280
 
Debt redemption.

This is perhaps not so perplexing as it first appeared to be. The debt falls as follows (provided they haven't bought back any more this year):


7% debentures due 2005	 111,870 	  	
5.75%   notes due 2006   430,000 	 
5% debentures due 2007 	 440,000


Cash available according to the latest 10Q is 534 mUSD. To meet the debt maturing in 2005 will not be a problem. It is the payments in 2006 and 2007 there is concern about. Retiring the 2005 debt early will save them some interest costs. And apart from that - not much will change.

Erik
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