U S FILTER (USF) A Water Stock ! Message Board

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Non-Tech : U S FILTER (USF) A Water Stock !

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To: daaan who wrote (326)	9/29/1998 12:09:00 PM
From: Mike C2	Read Replies (1) of 361

What does redemption mean...not talking about religion here U.S. Filter Corp Redeems 6% Convertibles Due 2005 14:17:20 09/24/1998 I've been following the share price for quite a while. Seems like a slam dunk if you think next century. Got a cold call at the turn of the year: buy the 12/01 convertibles at 108 with a conversion price of 39.5. Share price was about 30 then. "If the stock goes up so will the cv. If the share price goes down you have downside cushioning." The guy was right. The stock has been cut in half and the cv is down only 20+%. Glad I didn't do it anyway. So...what is this 6% CV due 2005? Why redeem it? Is this a material change? Not that it makes a whit of difference, but my sympathies to longtimers who are feeling pain. If I buy now am I trying to catch a falling knife, or getting a great bargain? Think I'm going to begin nibbling. MikeC

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