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Technology Stocks : The Learning Company (TLC)
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To: paul richards who wrote (5269)7/31/1998 6:25:00 PM
From: Trader Dave  Read Replies (1) of 6318
 
A typical nonsense post from Paul

C'mon Paul, you are showing your true colors. If they were so anxious to bail, Tribune could have arranged a secondary offering, instead they went to a lot of trouble to create an unusual instrument that allows them to participate in the first 20% of appreciation of the stock and still retain 17% of appreciation of the stock above $33 for the life of the security.

To pay for this benefit, Tribune had to offer a 6 1/4% coupon on the DECS they've sold!!! There's no way Tribune would take this kind of risk in selling their TLC common stock if they thought there was a major risk to the company's long term prospects!

An ugly market and this deal put a lid on things this week, but this is not any indication of the tribune company's doubts about tlc's prospects. In addition, they were able to place this deal pretty easily, it was oversubscribed.

TD
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