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Subject:  Re: Fortis 23% bond Date:  8/31/2007  3:31 PM
Author:  LostCommuniques Number:  21453 of 36328

You've overlooked the interest payment. While they may not lose on the principal either way, they have paid pretty handily for access to that principal. Fortis is paying a 23% yield for the capital to make this investment. That is a pretty significant stake.
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