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To: Gopher Broke who wrote (68819)1/24/2002 8:22:27 PM
From: Joe NYCRespond to of 275872
 
GB,

Secondly, if $300M of convertibles expires this year at below strike then that counterbalances the new issue and the "dilution" becomes 2%-3%. Anyone know what conditions are attached to the maturing debt?

I was under the impression that all of the convertible bonds were converted last year, and all that's left is government backed debt, which incidentally may have higher interest rate than the bonds issued today. (per Patrick Tanner's post about weighted average interest rate of outstanding debt being 5.39%)

Joe