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Biotech / Medical : Sepracor-Looks very promising -- Ignore unavailable to you. Want to Upgrade?

To: Vector1 who wrote (3406)	7/3/1999 5:38:00 PM
From: Bob Swift	Read Replies (3) \| Respond to of 10280

Don't know much about bonds. Is it a better deal to hold convertibles than the commons ? Just saw this " The Sepracor 7 percent of 2005 convert closed at the 95 1/2 to 96 1/4 level(Tuesday), up from Monday's close of 92 3/4 to 93 1/4. The issue is well off its March 1999 closing high of 130 of 131 and recovering from its May 1999 closing low level of 85 1/4 to 86. The Morgan Stanley Dean Witter new issue from December 1998 offers a current yield of 7.3 percent, well above the non-dividend paying common stock. It has a 53.8 conversion premium. That premium is up from an 18 percent low in March and from a 77 percent high in May...." Although the issue is rated "CCC+" by Standard & Poor's,us longs probably rate it AAA+. Which is a better deal starting with $100 and intend to hold till 2005 , common or convertible ?