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Williams Companies, Inc. Message Board

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  • singhman19 singhman19 Jul 31, 2002 4:18 PM Flag

    What about WMB-I ?

    The div.on this hybrid security is still intact and cannot be cut.I spoke with a company representative early this week.In case it has to be suspended it will accumulate until payback of priniciple($25 a sh),rollover or coversion in 2005.In case of bankruptcy,it will have seniority over common stock.A much better investment than common with huge potential return.
    Have fun,
    SINGHMAN

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    • RE the wmb pri,,,what type of hybred sec. is it? Does it convert to common in 05? Is it mandatory, or a choice? What price does it convert to and what is the ratio?

      • 1 Reply to lostalot33333
      • Go to the Williams site and read the prospectus...it is well written, has some helpful diagrams, and should be read by anyone considering the WMB.I ... we looked at it the other day, and figured that if the Co. was gonna make it, we'd rather have the common for an immediate double, and if they were gonna go bust, we really didn't want either one of them... WMB.I has been trading for roughly the remainder of scheduled dividends through 2004 plus common stock price... (ROUGHLY, folks, don't go nuts and run a std deviation on it)... so we felt like if the stock was good for a $2 move short term it was better to get the $2 in the common vs the WMB.I ...then we'd have a lot more cash to buy the .I if we wanted it!

        Take care,

    • Hybrid security, what do you mean by this. And you mentioned converting in 05, what does it convert to and what is the ratio...thanks.

    • Thanks.

      See message 38252 for my reply. I did not want to type my rant again !

      Looks like an interesting income candidate for a diversified portfolio.

      Steve

 
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