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Definition of Refundable
Eligible for refunding under the terms of indenture.
Not permitted, under the terms of indenture, to be refundable.
An arrangement whereby a security issue is canceled if the underwriter is unable
The contract that sets forth the promises of a corporate bond issuer and the rights of
An undertaking either (1) to complete a project such that it meets certain specified
Conditions under which credit is extended by a lender to a borrower.
In the BA market, an acceptance may be referred to as Eligible because it is
An undewriting in which an investment banking firm commits to buy the
refunding of a high-coupon bond with a new, lower coupon bond.
Agreement between lender and borrower which details specific terms of the bond issuance.
refunding of a low coupon bond with a new, higher coupon bond.
This is the process by which "dirty money" generated by criminal activities is converted through legitimate businesses into assets that cannot be easily traced back to their illegal origins.
The net present value of the savings from a refunding.
The redemption of a bond with proceeds received from issuing lower-cost debt obligations
The length of time given a borrower by a lender to repay a debt and the frequency of principal payments which the borrower has to meet.
Rho - The rate of change in a derivative’s price relative to the underlying
security’s risk-free interest rate.
Roth IRA. An IRA account whose earnings are not taxable at all under certain
Stopping curve refunding rate
A refunding rate that falls on the stopping curve.
Terms of sale
Conditions on which a firm proposes to sell its goods services for cash or credit.
terms of sale
Credit, discount, and payment terms offered on a sale.
Terms of trade
The weighted average of a nation's export prices relative to its import prices.
Terms of Trade
The quantity of imports that can be obtained for a unit of exports, measured by the ratio of an export price index to an import price index.
a debit balance in the Overhead account at the end of a period; when the applied overhead amount is less than the actual overhead that was incurred
Underfunded pension plan
A pension plan that has a negative surplus (i.e., liabilities exceed assets).
Economic activity not observed by tax collectors and government statisticians.
The mirror image of the asset substitution problem, wherein stockholders refuse
The asset that an option gives the option holder the right to buy or to sell.
Earnings after removing the effects of nonrecurring or nonoperating items.
Options: the security subject to being purchased or sold upon exercise of an option
When a security is expected to appreciate at a slower rate than the overall market.
Issue of securities below their market value.
Issuing securities at an offering price set below the true value of the security.
To guarantee, as to guarantee the issuer of securities a specified price by entering into a purchase
A party that guarantees the proceeds to the firm from a security sale, thereby in effect taking
Firm that buys an issue of securities from a company and resells it to the public.
See investment banker.
This could be the person (broker or agent) who helps you choose the proper type of life insurance or disability insurance and the insurance company for your particular needs. This could also be the person at the insurance company's head office who reviews your application for coverage to determine whether or not the insurance company will issue a policy to you.
Person that uses various types of evidence to evaluate the insurability of a client.
Acting as the underwriter in a purchase and sale.
Evaluating and classifying potential risk of a client.
The portion of the gross underwriting spread that compensates the securities firms that
For an insurance company, the difference between the premiums earned and the costs
A group of investment banks that work together to sell new security offerings to
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