From hliu at mindspring.com Sat Apr 3 09:37:06 1999
[ ... ]
In January she did a convertible-bond offering first pegged at
$500 million; at her behest, it ballooned to $1.25 billion
later the same day. "I was always pushing for bigger." Each
$1,000 bond pays 4.34% in annual interest and can be converted
into Amazon common stock at $156 a share; lately Amazon trades
around $130.
Why would anyone in his right mind lend money to a company that
is losing it?
... of course this went to press before this week's spectacular rise in AMZN to a closing price of 171 ... not so stupid afterall?
/jordan