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Discount Note |
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Discount Note An unsecured corporate debt that is issued at a discount and matures at par. It is similar to a zero coupon bond or T-bill. Discount notes give institutional and retail investors convenient choices with respect to the investment size and maturity date for a short-term investment. Notes: Maturity dates on discount notes typically range from one day to one year. |
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| recently completed an offering of its senior discount notes due 2011, with a value at maturity of $135 million and yielding gross proceeds of $73. Best believes that Jupiter has excellent liquidity provided by the short-term maturity of its discount note within the group. In an SEC Form 8-K filed today, Verticalnet announced its entry into three new agreements and the amendment of two other agreements relating to its senior secured convertible promissory notes and its senior subordinated discount promissory note, the net impact of which is to shift the maturity of the discount note from January 31, 2007 to April 1, 2008, to re-price warrants previously granted to the holders of the convertible notes, to increase the principal amount of the discount note from $5. |
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