RECY Looking Good... A Message Board

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Non-Tech : RECY Looking Good... A

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To: Wally Mastroly who wrote (5024)	5/22/1998 11:32:00 AM
From: James Strauss	Read Replies (2) of 7006

Wally: Here's a snipit fro the news article: ******************************************************************** Meanwhile, a little more than $1.0 billion is debt is expected to price in the U.S. junk bond market Friday, including $250 million in eight-year senior notes by Recycling Industries Inc. (RECY - news), sources said. Price talk on the deal is 10-1/8 to 10-3/8 percent, sources said. ******************************************************************** RECY has short term debt in the 13% range... So, trading that for a little over 10% debt would be positive... RECY's blended (average) debt is about 10%, implying some debt is below 10%... So, RECY wouldn't trade below 10% for new 10% debt... I see them using some of the money in lieu of getting new short term debt in the 12% to 13% range... It makes good economic sense... The balance of the money can be used in their Acquisitions instead of diluting the stock base through Convertible Pfd shares... All in all, this would be positive... Jim

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