On May 1, battered telecom startup Net2000 Communications Inc. was trading around $1.75—a fraction of its $31 initial public offering price. Even the company's most bullish analyst had downgraded it. Net2000's bonds were rated junk, and lawyers were starting to put together shareholder suits. But the very same day, Toronto-Dominion Bank, First Union Corp., and others made a $325 million loan to Net2000.
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机译:5月1日,饱受打击的电信初创公司Net2000 Communications Inc.的股价约为1.75美元,仅为其31美元的首次公开募股价格的一小部分。甚至该公司最乐观的分析师也将其评级下调。 Net2000的债券被评为“垃圾级”,律师们开始提起股东诉讼。但是就在同一天,Toronto-Dominion银行,First Union Corp.和其他公司向Net2000提供了3.25亿美元的贷款。
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