Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Conoco (COC) - The biggest U.S. IPO ever -- Ignore unavailable to you. Want to Upgrade?

To: Night Writer who wrote (91)	4/6/1999 1:54:00 PM
From: Night Writer	Read Replies (1) \| Respond to of 123

US CORP BONDS - Supply seen low =3 Initial price talk put the yield in the 10.75 to 11 percent range on the B3/B-plus rated issue, dealers said. One portfolio manager predicted the bonds will be well-received in both the primary and secondary markets. Proceeds will be used to fund several acquisitions totaling about $85.4 million, and to pay down a revolving credit facility, Moody's Investors Service said. In general, market players said the corporate bond market as a whole is in good shape to absorb new supply when and if it comes. Conoco <COC.N> is expected to sell $3 billion of high-grade bonds next week via Salomon Smith Barney and Credit Suisse First Boston. The current lack of supply can only help the market going forward, one money manager said. Spreads in both high-grades and junk are more inclined to narrow than widen in the current environment, market watchers said. In other markets mid-morning, longer-term Treasuries were extending earlier gains, while the short end of the curve was down. The 30-year long bond was quoted up 9/16 to yield 5.55 percent; two-year notes were down 1/16 to yield 4.98 percent. Stocks were generally lower. The Dow Jones Industrial Average was down more than 50 points at about 9956. ((-- Dean Patterson, U.S. Corporate Bond Unit, 212 859-1662)) REUTERS