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To: Jorj X Mckie who wrote (3768)	8/9/2001 6:21:05 PM
From: Stoctrash	Respond to of 10077

Yep...NT did one , 1.5B dailynews.yahoo.com NEW YORK (Reuters) - Nortel Networks Corp. (NYSE:NT - news) (NT.TO), the world's largest telecommunications equipment supplier, Thursday sold $1.5 billion of seven-year convertible senior notes to help stabilize its balance sheet amid a steep slide in demand for its products. Brampton, Ontario-based Nortel boosted its sale from $1 billion, cut the coupon and boosted the conversion price, reflecting investors' apparent readiness to bet on a turnaround for Nortel, whose shares have fallen 90 percent in a year and which in July reported a $19.4 billion second quarter loss. Nortel said it is using proceeds for general corporate purposes. Its sale follows last week's $1.9 billion convertible preferred stock sale by rival Lucent Technologies Inc. (NYSE:LU - news). People familiar with the sale said the notes carried a 4.25 percent coupon and are convertible into Nortel common shares at $10, a 32.3 percent premium over the shares' Thursday close on the New York Stock Exchange (news - web sites). Investors had expected a 4.25 to 4.75 percent coupon, down from an original 4.75 to 5.25 percent and a 30 to 32 percent premium, up from 25 to 30 percent. Nortel shares closed on the Big Board at $7.56, down six cents, and on the Toronto Stock Exchange unchanged at $11.68. Convertibles usually offer current income and can be converted into company stock. Credit Suisse First Boston and J.P. Morgan arranged the private sale, industry sources said.

To: Jorj X Mckie who wrote (3768)	8/9/2001 6:22:19 PM
From: Stoctrash	Read Replies (1) \| Respond to of 10077

here's a classic off the CFZ thread: cnnfn.cnn.com NEW YORK (Reuters) - A prominent New York pension fund manager, who is awaiting trial on illegal kickback charges, was arrested Thursday for a separate scheme in which he allegedly defrauded clients by sending unprofitable trades to their accounts while keeping the winners for himself. Alan Bond, president and chief investment officer of Albriond Capital Management, formerly known as Bond Procope Capital Management, was charged in a complaint filed in Manhattan federal court for conducting an unlawful "cherry picking" scheme in which he directed over 93 percent of profitable trades to his own account and less than 7 percent to his clients.