Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Paul Allen's Wired World -- Ignore unavailable to you. Want to Upgrade?

To: James Strauss who wrote (264)	8/25/1999 8:51:00 PM
From: RTev	Read Replies (2) \| Respond to of 361

borrowed from the Microsoft thread: #reply-11068581 Paul Allen Gets $1 Bln Loan, Uses Microsoft Stock as Collateral quote.bloomberg.com New York, Aug. 25 (Bloomberg) -- Paul Allen, the co-founder of Microsoft Corp. and owner of Charter Communications Inc., is borrowing $1 billion from Commerzbank AG and other lenders to help finance more acquisitions, said a person familiar with the transaction. Allen is using Microsoft shares as collateral for the five- year loan and will pay a floating interest rate of 125 basis points over the London interbank offered rate. That's equivalent to about 7 percent today. ... In May of last year, he borrowed $1 billion in a loan arranged by Chase to invest in Charter Communications, a cable- television operator that last month announced plans for a $3.45 billion initial public offering. That loan, too, was backed by Microsoft stock and yielded 125 basis points over Libor. Commerzbank was a co-arranger of that loan.