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.

Technology Stocks : Leap Wireless International (LWIN) -- Ignore unavailable to you. Want to Upgrade?

To: Rono who wrote (2131)	6/6/2002 11:30:45 AM
From: pcstel	Read Replies (2) \| Respond to of 2737

The other offered at 55.25 currently paying coupons with settlement date of June 11. These bonds were offered at 68 cents when the stock was at $11. Bonds down 20% Stock down 90% PCSTEL

To: Rono who wrote (2131)	6/6/2002 12:07:11 PM
From: RalphCramden	Read Replies (1) \| Respond to of 2737

Both bonds show settlement date of 6-11-2002. I think this is the settlement date if you buy the bonds today, this is when you get them. The bond that pays coupons now pays $6.25 every 4/15 and 10/15. Then the difference in price between the coupon and no-coupon-till-2005 bond seems to reflect WHEN the bond-pricers think Leap will crater. Ignoring current value of money, we get this estimate: bond price dif = $25 = 4 semi-annual payments. So the bond analysts seem to think you will get 4 more coupon payments before the default. They seem to think you will get paid coupons through 4/15/2004. One thing I don't understand on the no-coupon-till-2005 bond is that there is no coupon rate shown. The bond matures in 2010, shows first coupon pay 10-15-2005 with semi-annual payments. You would think the coupon rate of pay for the 5 years between first coupon and bond maturity would be relevant, but it is not there. If anybody understands this, please enlighten me! a la lune, Ralph