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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: DubM who wrote (4523)3/17/1998 7:49:00 PM
From: MangoBoy  Respond to of 12468
 
<< ''Many people believe in the WinStar story and wanted to play the most junior security in the capital structure to pick up yield,'' said one source close to the deal. >>

i don't know much about debt offerings. is this saying that the "junior" securities are "last in line" to get repaid in the event of default, and therefore carry a higher yield (reward for risk), but that investor confidence in WCII is so high that the risk seems small relative to the reward?

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