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.

Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (89136)	2/1/2001 10:44:45 PM
From: bosquedog	Read Replies (1) \| Respond to of 132070

Have you looked at ABMD? I guess you would have seen the front page article in the newspaper.

To: Knighty Tin who wrote (89136)	2/1/2001 11:43:24 PM
From: GuyNixon	Read Replies (1) \| Respond to of 132070

Dear MB, I need your help on some basic terms of a Hong Kong US$ convertible. PCCW 3.5% 2005 Size:600 million Greenshoe: 200 million Maturity: 5 years Coupon: 3.5% (per annum payable semi-annually) Redemption Price 120.12% Yield to maturity: 7% Premiun: 21% ($7.865 based on the closing price of the stock on 20 October) Fixed F/X: HK$7.8 Call: 3 Years HNC, 120% provisional thereafter 1. "3 years HNC, 120% provisional thereafter" What does HNC stands for? I know it means the convertible is not callable within the first 3 years. 2. The coupon rate for this specific convertible is 3.5% per annum, payable semi-annually. Is the 3.5% a compound rate of the 2 semi-annual payment? Or the sum of the 2 payments(1.75%+1.75%)? I supposed the later one makes more sense. 3. Yield to maturity, how's that being calculated? If the convertible pays 3.5% per annum, that should be more than 7%? Thanks a lot Guy