The report to the Congress, required by the Gramm-Leach-Bliley Act, called for continued research and, most important, continued evaluation of financial institution supervisors' experience in using information derived from voluntarily issued subordinated
Despite its increasing use, however, subordinated
debt remains one of the least understood forms of financing currently available.
The holders of Envirodyne's 14 percent senior subordinated
debentures would receive, in exchange for their notes, (i) $79,000,000 principal amount of senior subordinated
notes (the new senior subordinated
notes), paying cash interest at 10.
The trusts will use the proceeds to purchase BAC's junior subordinated
notes and contracts to purchase perpetual noncumulative preferred stock to be issued by BAC at a future date.
Under the new plan, holders of the company's subordinated
securities would exchange all their debt and interest claims for $147.
The ratings on senior secured, senior subordinated
and the following ratings remain on Rating Watch Negative:
As part of the private exchange offer, which was launched on August 31, 2006, an offer was made to qualified holders to exchange equity or cash for all of the Company's $105,000,000 Senior Subordinated
Notes, and to deliver consents to certain amendments to the terms of the Senior Subordinated
Second graph of release should read: The junior subordinated
debentures will be offered to the public at 99.
s (EFC) approximately $198 million state clean water and drinking water revolving funds revenue bonds (Pooled Financing Program subordinated
master financing indenture bonds), series 2006 C.
5% senior subordinated
notes due 2013 to permit GY to incur the additional indebtedness.
Nasdaq National Market:MNTG) today announced that it is pursuing the issuance of $125,000,000 of Senior Subordinated
Notes through a private placement.
United States Can Company (the "Company") announced today that its tender offers for all of its outstanding 10 7/8% Senior Secured Notes due 2010 (the "Secured Notes") and 12 3/8% Senior Subordinated
Notes due 2010 (the "Subordinated
Notes" and, together with the Secured Notes, the "Notes") expired today at 5:00 p.