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Technology Stocks : Micron Only Forum
MU 263.78+4.5%3:59 PM EST
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To: Knighty Tin who wrote (35529)6/22/1998 8:51:00 AM
From: Kathleen capps  Read Replies (1) of 53903
 
Michael,

I've been in the process of moving so I don't have access to most of my MU notes. But I thought they only had another 500 mil of shelf debt available and from what I've read on the forum and web, more than that amount was involved in this deal.

Also, for all: MU would have been in default of their loans last quarter except for a last minute deal in Feb that revised the terms of the LOC. It was interesting to note at the time that the terms were made less stringent for the quarter (allowing MU to avoid default as of 28 Feb) but the fiscal year requirements were not relaxed.

One last thing. Since the number of shares has increased by approximently 10%, should we reduce the current EPS extimates by 10% to account in a rough preliminary way for the TI/MU deal. That's not counting all the extra interest, etc, of course.

Kathleen
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