With everyone still digesting details from the equity portion of the IPO, the focus turns to the debt piece. The bankers delineate the choices:
Facebook can raise debt in the form of preferred stock (which isn’t really debt – technically it is equity – but it pays a fixed dividend, which is similar to a fixed coupon on a bond), but it would have to come with conversion rights. That is, it could be converted into common stock at a given price over a given period of time, so it is viewed a...
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