Sepracor CFO Hustles To Bring Zero Converts

December 2003
Investment Dealers' Digest;12/15/2003, Vol. 69 Issue 48, p10
Trade Publication
Details how bankers from Morgan Stanley, Credit Suisse First Boston and U.S. Bancorp Piper Jaffray solved Sepracor Inc. chief financial officer David Southwell's dilemma regarding an investor demand for zero-coupon convertible bonds. Use of a complex structure known as a call spread that basically inoculated Sepracor shares against dilution; Second leg of the call spread which helped prohibitive financing charges.


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