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Non-Tech : Cendant Corporation (NYSE:CD) -- Ignore unavailable to you. Want to Upgrade?

To: joe who wrote (1133)7/18/1998 2:42:00 PM
From: Sparkle  Read Replies (2) | Respond to of 3627
 
Hi Joe,

The A rated CD convertible preferred sounds like a truly undervalued security with a dividend of 7 1/2% and a current yield of 12 1/2 % and trading at about $30- with a $50- par value. Does that mean that every buyer will receive a $20- capital gain in the year 2000 when the preferred is redeemed for cash or must you only exchange for common shares?

Can you advise how many common shares this convertible preferred will be exchanged?

Thanks for the valuable information.

SPARKLE



To: joe who wrote (1133)7/18/1998 3:11:00 PM
From: Grade1  Respond to of 3627
 
There is only some small problem:

To get rid of him Cendant have to give him the equivalent of $50 million. This is not only difficult but can also help establish Cendant's liability for the billions lost.



To: joe who wrote (1133)7/18/1998 5:42:00 PM
From: Benkea  Respond to of 3627
 
Joe:

The preferreds convert in 2001 not 2000 and total payout for every 1 share you buy today for $30 is $10.34 in cash dividends thru 2/2001.

Ben


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