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Non-Tech : Cendant Corporation (NYSE:CD)
CD 7.190-5.0%Dec 12 9:30 AM EST
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To: joe who wrote (1133)7/18/1998 2:42:00 PM
From: Sparkle  Read Replies (2) of 3627
 
Hi Joe,

The A rated CD convertible preferred sounds like a truly undervalued security with a dividend of 7 1/2% and a current yield of 12 1/2 % and trading at about $30- with a $50- par value. Does that mean that every buyer will receive a $20- capital gain in the year 2000 when the preferred is redeemed for cash or must you only exchange for common shares?

Can you advise how many common shares this convertible preferred will be exchanged?

Thanks for the valuable information.

SPARKLE
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