The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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From: Joe Stocks	9/27/2007 3:45:15 PM
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BSC- The SEC should be all over this. I will not be holding my breath. The rumor comes out yesterday. BSC sells $1 billion in bonds today at attractive rates - and now the rumor is denied. Crooks!! >>Bear Stearns (BSC - Cramer's Take - Stockpickr - Rating), timing is everything. The struggling brokerage house raised at least $1 billion this afternoon with a surprise sale of 10-year bonds. The sale, which was met by strong demand in the bond market, comes just a day after Bear shares surged nearly 8% on rumors that the Wall Street firm was near a deal to bring in a big outside investor. One report said Bear has been talking with billionaire value investor Warren Buffett. On Thursday, Bear Stearns took advantage of that momentum and some strong demand in the corporate bond market to raise some money. Sources say the deal drew more than $3 billion in orders for $1 billion worth of bonds, though it may be upsized. The bonds are expected to be priced at 190 basis points over comparable 10-year Treasury bonds. Investors say that is attractive for the senior bonds, relative to subordinated Bear Stearns bonds and comparable Lehman Brothers (LEH - Cramer's Take - Stockpickr - Rating) debt, both of which traded recently at about 175 basis points over Treasuries. thestreet.com.

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