By Sheryl Smolkin, LLB. LLM.
When the Wall Street Journal reported in August that some bankers had begun sounding out investors about 100-year bonds, it seemed like just another symptom of the summer silly season.
Yet within hours, it was revealed that the Norfolk Virginia based railroad Norfolk Southern had reopened its one-hundred year bond originally issued in March 2005 at a yield of 5.95%. More importantly, demand was high and the re-opening raised an additional $250 million, far exceeding the minimum $100 million threshold set by the firm. READ MORE
AlternativChronicle, Vol. 3 Issue 9 September 2, 2010
Posted with permission