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.

Strategies & Market Trends : Drillbits & Bottlerockets -- Ignore unavailable to you. Want to Upgrade?

To: AugustWest who wrote (10281)	5/8/2001 2:34:47 PM
From: AugustWest	Respond to of 15481

Starting to feel like an afternoon ramp in front of CSCO. JXM might win the WAG today. ref:2177 2:39

To: AugustWest who wrote (10281)	5/8/2001 3:30:21 PM
From: John Pitera	Respond to of 15481

WCOM, to issue over 12 billion in bonds, single biggest issuance by 1 company biz.yahoo.com Tuesday May 8, 3:01 pm Eastern Time WorldCom to Sell Up to $12 Billion Bonds By Jonathan Stempel NEW YORK (Reuters) - WorldCom Inc. (NasdaqNM:WCOM - news), the No. 2 U.S. long-distance phone company, plans on Wednesday to sell as much as $12.2 billion of bonds, in what would be the largest bond sale ever conducted by a single U.S. corporate issuer. ADVERTISEMENT Analysts expect Clinton, Mississippi-based WorldCom to use sale proceeds to refinance $3.1 billion of debt coming due by November, pay down commercial paper, and perhaps expand or make acquisitions. WorldCom increased the size of the sale as much as 74 percent from an original $7 billion to $8 billion, an official for co-lead manager J.P. Morgan said on Tuesday. The company has drawn more than $21 billion of bids for its bonds, in part by attracting investors with juicy yields of as much as 8.4 percent. Those yields are higher than yields on similar bonds from No. 1 and No. 3 long-distance rivals AT&T Corp. (NYSE:T - news) and Sprint Corp. (NYSE:FON - news). ``They're getting strong investor interest because of the pricing,'' said Derek Brown, vice president at Back Bay Advisors LP in Boston, which invests more than $5 billion of fixed income. ``Investors are looking to bonds with high yields for more value.'' Indeed, since the Federal Reserve's surprise 0.50 percentage point interest rate cut on April 18, dozens of companies have sold bonds to investors comforted that the Fed will not let the U.S. economy slide into recession, and displeased with the low yields on safer U.S. Treasuries. The size of WorldCom's sale, moreover, should ensure the bonds will be easy to trade. ``It's such a large deal,'' said Michael Dineen, who helps invest more than $5 billion for MONY Life Insurance Co. in New York. ``WorldCom's bonds will be pretty liquid, and people have to make room for them.''