SunPower Convertible Debt, an Alternative to the Common
Rising crude oil prices continue to drive global economies to seek alternative energy sources, and investors are being drawn toward these stocks in recent times. One such stock is SunPower Corporation (SPWRA), a developer and manufacturer of solar-electric products. After a setback in 2009, when the stock price plunged from a high $134 in 2008 to $46 in 2009, the company seems to be on the road to recovery. Because of the inherent risk, however, long-term investors should consider the company’s 4.75% senior convertible notes that mature in 2014.
Founded over 25 years ago, California-based SunPower Corporation develops and manufactures solar-electric power products. Its high-efficiency silicon solar cells, which convert sunlight into electricity, generate up to 50% more power per unit area than conventional solar technologies. The cells are used in residential, commercial, and remote power applications. The company, which was once a subsidiary of Cypress Semiconductor, employs about 5,160 people.
Read more about SunPower's 4.5% senior convertible notes.