Info

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.

Security

None

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

Rating

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 www.bondsonline.com and

www.bondresources.com.

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

0 0

Post a comment