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Technology Stocks : Rockwell-Spins off Conexant (CNXT) -- Ignore unavailable to you. Want to Upgrade?

To: M. C. Orme who wrote (128)	5/13/1999 12:34:00 AM
From: straight life	Read Replies (1) \| Respond to of 2013

I'm not in finance, or even in business, but it seems these are notes (debt) that are convertible into equity but are subordinated to other notes ranked "senior" which means, as far as bankruptcy is concerned, that senior notes get paid off first, then if anything's left over, the subordinated notes get paid off... then, lastly, equity holders get what's left. Interest paid should be at a higher rate for a straight subordinated note (since you have to be re-imbursed for being second on line)yet, since there's an equity "sweetener" it will actually yield less than a straight senior debt note. But hey, what do I know, I'm in television.