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Biotech / Medical : Biotechnology Value Fund, L.P.
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To: Icebrg who wrote (3495)6/5/2003 8:20:49 PM
From: BiomavenRead Replies (1) of 4974
 
Note that this is not (necessarily) a zero/zero deal as discussed elsewhere. The bond might well be sold at less than par - that would be typical of a zero coupon non-convertible bond.

In other words investors buy the bond at say 90 and get it redeemed at 100 - the interest is essentially paid at the end, although the imputed interest is taxable each year to the holder.

We'll need to wait to see the actual terms.

Peter
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