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Technology Stocks : Loral Space & Communications

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To: Valueman who wrote (5159)	1/13/1999 6:59:00 PM
From: jopawa	Read Replies (1) of 10852

I found this on Bloomberg today. Their bonds will be Junk. John LORAL SPACE & COMMUNICATIONS LTD., a satellite manufacturer, plans to privately sell $350 million of seven-year senior notes, according to people familiar with the sale. The notes are expected to be rated below investment grade. The New York-based company plans to use $150 million of the sale proceeds to buy convertible preferred shares being sold by Globalstar Telecommunications Ltd., its 42 percent owned subsidiary. Lehman Brother Co. is arranging the note sale. (Updated Jan. 11. Company news: LOR US CN.)

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