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Technology Stocks : Loral Space & Communications -- Ignore unavailable to you. Want to Upgrade?

To: Joe Brown who wrote (5113)	1/8/1999 11:29:00 AM
From: Snake	Respond to of 10852

I don't know if the terms of the CPEO's have been released, but basically the holders can convert their preferred into GSTRF stock in the future. How many shares I don't know. This does allow Globalstar to obtain financing at a much lower rate than in the high yield market. Loral is purchasing approximately 42% of the CPEO's so on a fully diluted basis, its ownership remains at 42% while the other partners interest will decrease unless they purchase some too.