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 : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (56255)	11/26/2001 3:58:53 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

11/26 03:06 Alcatel Plans to Sell 750 Mln Euros of 5-Year Bonds This Week By Christine Harper quote.bloomberg.com London, Nov. 26 (Bloomberg) -- Alcatel SA, Europe's fourth- largest phone-equipment maker, plans to sell about 750 million euros ($660 million) of five-year bonds in the middle of this week, said a banker involved in the sale. The banker didn't provide details on the likely price of the bonds. Last year Alcatel sold 1 billion euros of five-year bonds at a yield of 6.005 percent, or 73 basis points more than French government debt. Those bonds recently yielded 6.49 percent, according to Merrill Lynch & Co. prices on Bloomberg, or 2.56 percentage points more than government debt. The Paris-based company's credit rating has fallen this year as customers halted purchases of new gear to cut costs. S&P has lowered Alcatel's rating to ``BBB,'' two notches above junk, while Moody's rates it ``Baa1,'' three grades above junk. The outlook on both ratings is negative. To help win investors to the new bonds, Alcatel is offering 1.5 percentage points of extra interest on the debt if the company's credit rating is cut below investment grade by either Moody's Investors Service or Standard & Poor's, Jonathan Hoyle, a banker at J.P. Morgan Chase & Co., said last week.