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Article: Merrill Lynch & Co., Inc. to Receive $2 Billion in LYONs Offering.
- Article from:
- Business Wire
- Article date:
- March 7, 2002
CopyrightCOPYRIGHT 2002 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
NEW YORK--(BUSINESS WIRE)--March 7, 2002
Merrill Lynch & Co., Inc. (NYSE: MER) today announced that it has entered into a purchase agreement for the sale of $2 billion original principal amount of Liquid Yield Option(TM) Notes, or LYONs(R), due 2032.
The transaction was increased in size due to strong investor demand.
The LYONs are zero coupon floating rate senior notes convertible into Merrill Lynch common stock, and are being offered under Merrill Lynch's shelf registration statement. The LYONs offering is being sole managed by Merrill Lynch's broker-dealer subsidiary, Merrill Lynch, Pierce, Fenner & Smith ...