NEWS Nortel Networks, which lost $19.4bn in the second quarter, is looking to raise $1bn from a private bond issue.
The paper is halfway between a bond and a stock. It pays an annual 'coupon', like a bond, but can also be converted into shares, according to the Financial Times.
Nortel hopes to complete the offering today.
For related news, see
Bookham hit hard by Nortel decline
http://www.silicon.com/a46155
Nortel reports a dog of a quarter
http://www.silicon.com/a45895
Nortel optical strategist walks out the door
http://www.silicon.com/a45761
Nortel begs for more
A billion dollar fund-raiser...
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