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To: accountclosed who wrote (12022)11/30/1998 5:07:00 PM
From: yard_man  Read Replies (2) | Respond to of 86076
 
OK, stock is issued instead of long term debt because it is seen to be a better deal from the Company's perspective. The lack of "other" long term debt means longer term treasuries are in a class by themselves. As long as long term treasuries are "scarce" compared to demand then long rates stay low -- stock market stays happy.

Something seems very circular in the reasoning.