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Text size [+][-]  Saturday November 7 2009GLOBAL EDITION

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18 Nov 2008 20:22


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Eleven tech firms have convertible debt that comes due in the next 16 months and stocks that trade significantly below their conversion prices, according to data from ThomsonReuters.

US technology companies issued gobs of convertible debt in recent years and much of it is maturing soon. Low stock prices make conversion unlikely, and paying the debt off would drain precious cash. With refinancing absurdly expensive, issuers have few attractive choices.

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