Employees of the Treasury in Cypress Semiconductor Corporation (Cypress) has just received the final draft of proposals for deferred $ 600 million of convertible bonds. This will be the last in a series of issues of convertible bonds Cypress. But this time, the situation was quite different. The last sentence was in 2000, when the share price was trading at Cypress $ 40 to $ 50 range for the year and were, in fact, hit a high of $ 57.75 in May 2000. The picture has changed dramatically in the last three years. A day earlier, May 16, 2003, the closing price was $ 10.51. Of course, the situation was the same for almost all high-tech stocks, but it does not make the prospect of issuing equity-based security any less painful, given the current stock price. "Hide
by Robert M. Conroy Source: Darden School of Business 8 pages. Publication Date: October 14, 2008. Prod. #: UV1049-PDF-ENG
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