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Strategies & Market Trends : Floorless Preferred Stock/Debenture -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (1378)	2/22/2002 12:04:44 PM
From: Roger A. Babb	Read Replies (2) \| Respond to of 1438

Zeev, a recent AES news item said: "The terms of the two AES loans, known as "secured equity-linked loans," or SELLS, require that AES maintain unregistered stock at a level of 2.25 times the loan amount as collateral. As a result, AES said, it increased the number of unregistered shares securing the two loans to 255 million shares from 160 million last Friday to compensate for a decline in its stock price." Are companies required to reveal the "SELLS" in 8k or other filings? They are appropriately named, we should "SELL S"hort any company issuing such a floorless instrument.