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Technology Stocks : MRV Communications (MRVC) opinions? -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (11006)	10/28/1998 10:36:00 AM
From: Sector Investor	Read Replies (2) \| Respond to of 42804

The conversion price is $27.04

To: Madharry who wrote (11006)	10/28/1998 6:56:00 PM
From: stuart	Read Replies (1) \| Respond to of 42804

concerning the mrvc 5% converts due6/15/2003...they are not registered currently so they are only available to qualified investors. mrvc is registering these bonds now. however i believe no public market will develope for them, they will remain an institutional security only. they are currently quoted by the underwriter (prus) in the mid 50's with the stock in the 7 1/2 to 8 1/4 range. as such the hedge community is not a factor since these bonds are "busted". at this level say 55 that is a 20.5% ytm. ever since the risky credit market shut down there has not been the traditional buyers for busted converts, (ie junk bond funds).