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Technology Stocks : Loral Space & Communications

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To: Sawtooth who wrote (6169)	5/18/1999 11:26:00 AM
From: Thomas	Read Replies (1) of 10852

Tim A, I would assume that this is only the registration of notes that were issued (initially unregistered) under Rule 144a. Companies issue 144a securities because they can structure and place them with institutions quickly without having to be bogged down by the SEC filing and review process. Once the 144a bonds are placed, the company then goes about the SEC registration process and does an exchange offer. If I remember correctly, there is usually some defined grace period for the company to get the registration done and there is usually some increased yield penalty if they do not get it done. Basically, that is a long way of saying, there are no significant ramifications, it's just business as usual in the bond business. Hope that is of some use. Cheers, Thomas

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