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 : NEXTEL -- Ignore unavailable to you. Want to Upgrade?

To: Ben Wood who wrote (4493)	2/5/1998 9:44:00 PM
From: Anthony Wong	Respond to of 10227

Nextel Zero-Coupon Bonds Price Talk 9.75% to 10% February 5, 1998 Dow Jones Newswires NEW YORK -- Nextel Communications Inc.'s two-part $1.3 billion junk bond due to price Friday is attracting huge interest from junk bond investors, according to lead underwriter Morgan Stanley Dean Witter. 'Interest is very high, there's a huge demand for the issue,' said a source at Morgan Stanley's high-yield syndicate desk. Price talk on the first tranche, $800 million (proceeds) of senior discount notes due 2008, non-callable for five years, with a five-year zero coupon, has come in at 9.75% to 10%, again according to the underwriting source. Price talk on the second tranche, for $500 million five-year pay-in-kind cumulative exchangeable preferred securities due in 12 years, came in at a spread of 125 to 137.5 basis points higher than the zero coupon bonds, again according to the underwriting source. The source wasn't able to indicate what will happen to the size of the deal in case it ends up being substantially oversubscribed. -Christiaan Brakman; 201-938-4385; Christiaan.Brakman@cor.Dowjones.com