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 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.
6 billion of total debt securities, pro forma for the issuance of the $600 million term loan due January 2008 and redemption of $525 million of subordinated
convertible debentures due March 2007.
The right of qualified holders of Senior Subordinated
Notes to tender their Senior Subordinated
Notes into the private exchange offer and to deliver consents, which was previously scheduled to expire at 5:00 p.
FPL GROUP CAPITAL ANNOUNCES SALE OF $350 MILLION OF SERIES B ENHANCED JUNIOR SUBORDINATED
DEBENTURES GUARANTEED BY FPL GROUP
Deallocated reserves remaining are then available for deficiencies in MFI recipient repayments funded from subordinated
Convertible Notes due 2007 on Rating Watch Positive -- with the expectation of raising the ratings to 'BB-/RR1' from 'B-/RR4' should the transaction close as proposed.
The Company will use the net proceeds of the proposed private placement of Senior Subordinated
Notes to complete construction of its Presque Isle Downs facility, to pay the $50 million slots license fee upon licensing of Presque Isle Downs, to repay certain outstanding indebtedness and for general corporate purposes.
The holders of tendered Subordinated
Notes who validly tendered their Subordinated
Notes prior to the consent payment deadline will receive $1,067.
0 million of principal amount of 9 5/8% Senior Subordinated
Notes due 2007 (CUSIP No.