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Biotech / Medical : Sepracor-Looks very promising

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To: Icebrg who wrote (6923)6/3/2003 9:23:57 AM
From: Harold Engstrom  Read Replies (3) of 10280
 
Erik,

What are the current yields on this debt? If the yields are high (20%-25%) like they were a few months ago, then presumably the debt can be bought back at a significant discount. Estorra and MDI are obviously the key here: successful launches should pull revenues to $1B mark by end of 2005 and generate the cash necessary to retire debt or at least refinance it on attractive terms. With $500MM still remaining in the bank, perhaps they can retire it all.

H
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