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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Curlton Latts who wrote (7876)	11/3/1997 12:49:00 AM
From: GuinnessGuy	Read Replies (1) \| Respond to of 25960

Curly, An S-8 is defined thus "....used for the registration of securities to be offered to an issuer's employees pursuant to certain plans." In other words it isn't for reporting significant events in general. Rather the 8-K is used for this. (See my post to Scot). -Good Luck to All Manana- Craig

To: Curlton Latts who wrote (7876)	11/3/1997 9:06:00 AM
From: Robert DeHaven	Respond to of 25960

To All: I found this little diddy in Paine Webber research... Unfortunately I have to type it ..... 8/1/97 Cymer priced a new convert. bond after 144A the market close of 7/31/97, raising $150 million in proceeds. The size of the highly oversubscribed deal was increased from an initial size of $100 million. Proceeds from the offering are to fund expansion of the mfr. capacity, working capital, and gen corp purposes. The $150 million step-up issue was priced at par with a 3 1/2% current coupon, 5.2% YTM, a 28.55% conversion premium and a 7 year maturity. The convert pays 3 1/2% for three years, steps up to 7 1/4% for the rest of the term. Non-callable for 3 years, the issue is covertible at $94 (pre-split) to 10.64 shares per $1000. Our estimate of the investment value is $67.20 and thus the convert was issued with an investment premium of 48.8% based on 600 bps spread to treasuries. Downside/upside participation for the issue is estimated at 30%/81% with a one year movement of 25% in the common stock. Comments? Bob