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Non-Tech : Cityscape Financial (CTYS)
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To: Bruce A. Thompson who wrote (1613)11/14/1997 1:08:00 PM
From: Zeev Hed  Read Replies (1) of 2544
 
Bruce, I am afraid not, since I do not know the discount rate they used originally to take these in earnings, nor the spread in interest rates. Probably these figure all over the map. However, one thing should be clear, the aquirer of these loans would not take these at a premiums, thus the exercise will hit earnings (and book value) while raising immediate cash.

Zeev
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