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Know how many questions to expect in a section. There are about 500,000 buffalo in North America...and I expect to see each one of them at the next family reunion. (Uncle Abe, I'm looking at you.)

Bondage, Anyone? Raising Debt, Not Cain

Bondage, Anyone? Raising Debt, Not Cain

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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