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Biotech / Medical : Sepracor-Looks very promising -- Ignore unavailable to you. Want to Upgrade?


To: Harold Engstrom who wrote (6929)6/3/2003 10:46:43 AM
From: Biomaven  Read Replies (1) | Respond to of 10280
 
Does anyone have a problem with Sepracor retiring the '05 debt now?

Not me - likely they could even replace the debt with a lower coupon bond (with a later maturity) if they really needed to (compare CELG's offering).

I would say this was a fairly bullish development - an expression of the fact that they don't need the money in the short term and see no reason why they should pay 7% interest until maturity.

Peter