The offer price will be 100% of the $1,000 face value per bond.

Coupon payment dates

2/1, 8/1

Coupons of $83.75/2 = $41.875 will be paid on these dates.



The bonds are debentures.

Sinking fund

Annual, beginning 8/1/05

The firm will make annual payments towards the sinking fund.

Call provision

Not callable before 8/1/04

The bonds have a deferred call feature.

Call price

104.188 initially, declining to 100

After 8/1/04, the company can buy back the bonds for $1,041.88 per bond, with this price declining to $1,000 on 8/1/14


Moody's A2

This is one of Moody's higher ratings. The bonds have a low probability of default.

Information on individual bonds can be found at and

Many of these features will be detailed in the bond indenture, so we discuss this first.

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