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Technology Stocks : Redback Networks, Inc. (RBAK) -- Ignore unavailable to you. Want to Upgrade?

To: Lucky888 who wrote (1397)3/16/2000 5:44:00 PM
From: Bruce Brown  Read Replies (1) | Respond to of 1956
 
No, I don't know what the full convertible terms were for the $500 Million. Here's a more eloquent explanation of why a company raises cash through taking on debt:

messages.yahoo.com

BB



To: Lucky888 who wrote (1397)3/25/2000 11:43:00 AM
From: waitwatchwander  Respond to of 1956
 
Redback Networks Inc. (NasdaqNM:RBAK - news), a Sunnyvale, Calif.-based Internet infrastructure company, on Friday privately sold $500 million of seven-year convertible subordinated notes, International Insider, a pricing information service, said.

The notes carry a 5 percent coupon and are convertible into Redback stock at $381.454 a share, a 23 percent premium over the stock's Thursday closing price on Nasdaq of 310-1/8.

biz.yahoo.com


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