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Seneca Gaming Corp. reduced its overall borrowing costs by refinancing $500 million of its bond debt with a mix of newly issued notes and lower-cost bank borrowings, the tribal-owned gambling company said Thursday. Seneca refinanced $500 million in senior notes that carried a 7.25 percent coupon rate and were set to mature in 2012 with $325 million in new bond debt and lending agreements that allow the company to access up to $225 million in bank borrowings.
... ordinance and any resolution establishing rates and regulating the use of the improvement, if such...(7) Specimen bond, with any attached coupons. (8) Attorney's no-litigation certificate. (9) Cer...
Both TIPS and Series I Bonds are adjusted for inflation, offering a real rate and an inflation adjustment. The inflation adjustment is the same on both securities, but the real portion of the interest rate on TIPS is generally much higher. Despite I Bonds' less attractive real rate, they have several features that add to their value. They may be redeemed before maturity, at par value plus accrued interest, eliminating price risk. In addition, taxes may be deferred until redemption. We estimate the value of these two features, and find that they are substantial and could potentially offset the lower real rate of I Bonds.
... attractive if the Treasury raises the real coupon on new I Bonds; investors could redeem older low c...
In this paper we discuss mathematical programming methods for insurance companies, mutual fund managers, and banks to match cash flow and liabilities. We focus on mortgage-backed securities, and methods for using them for asset allocation. Given the recent and ongoing sub-prime mortgage debacle, it is imperative that the conscientious and conservative investor use robust mathematical models to decide whether to hold or sell their current investments, or to invest in other portfolios, instead of making such decisions without careful consideration. We first discuss the difference between a deterministic and stochastic instrument, then describe a linear programming model for allocating bonds deterministically, and then, as in the case of mortgage-backed securities, stochastically.
... loans with low initial interest rates, also known as "teaser rates," were offered. These... of some time, a set amount, known as the coupon, will be paid for every period specified. This ass...
Using a data source extensively researched in the equity IPO literature but not yet examined in the context of corporate debt maturity, we document the maturity of 10,617 corporate debt issues placed by U.S. corporations in public markets between January 1, 1983 and December 31, 1999. We investigate and test various theories from earlier studies regarding optimal debt maturity suggesting that debt maturity is influenced by signaling and asymmetric information, taxes, and agency problems. Our main finding is that firm quality is directly related to debt maturity. Although inconsistent with the signaling theory of debt, this finding does support the notion that risky firms are screened out of the long-term debt market.
... that they use to return capital to bondholders. As noted by Guedes and Opler (1996), short-term d..., particularly for issues with fixed coupons. Although we do not find consistent results for th... two types of short-term borrowers: the high-rated borrowers who use short-term debt to take advantag...
Investment opportunities overseas - CEO Finance CEOs managing personal portfolios can still avail of attractive investment opportunities for the remainder of the 1990s despite the imminent end of the bull run in US stocks. Although US equities are expected to post annual growth rates of only 6% to 8%, there are other markets in the country and overseas that promise attractive returns. With the global economy suffering from deflation rather than inflation, high-quality bonds are proving to be good buys. The current 7% plus yields they offer are expected to go even higher as the US economy weakens as a result of recent interest rate hikes. Investors should consider 30-year Treasury bills, zero coupon bonds and bond futures. British, French, German and Italian government bond futures shou...
...; OPTIONAL PROSPECTIVELY DETERMINED PAYMENT RATES FOR SKILLED NURSING FACILITIES. Subpart G: Capital...(4) Zero coupon bonds. Zero coupon bonds are issued by government ...
Before the modernization of financial markets, fixed income investors relied heavily on coupon payments to support their retirement. A bondholder would physically mail a coupon into the issuer and receive a cash payment. Since there was not much of a secondary market for bonds and the commission to sell a bond was quite large, the fix on bond yield made a lot of sense. In today's world, most investors hold bonds individually in a brokerage account or they will purchase a mutual fund that holds a diversified portfolio of bonds. Secondary markets for individual bonds are much more robust than they were in the days of the physical coupon and commissions are much more reasonable.
... investors will thrive in low interest rate market environments by selling high coupon rate pr...
Q: Where can I find a basic introduction to investing? - R.W., Tallahassee, Fla.
... and promising to pay it back at a certain rate of interest. Bonds sold by the U.S. government's T... payments from the issuer at the stated "coupon rate." For example, if you buy a $1,000 bond with ...
... available on the Internet at http://www.bondinfo.com for the customer's non-commercial use at no ch...(C) For debt securities carrying a variable coupon rate, a member must disclose the following: ``The ...
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