This focus on the principal amount of a security ignores concepts such as the time value of money, and leaves open planning opportunities to receive securities with the same principal amounts but different values based on interest rates and/or maturity dates.
354 generally provides that, in most tax-free reorganizations, no gain or loss is recognized to a shareholder on an exchange of stock for stock, or on an exchange of securities for stock or securities of the same or lesser principal amount.
354 or 355 has no principal amount and thus is not boot in a Sec.
The 2011 notes were priced at 100 percent of their principal amounts and have the following terms:
The 2013 notes were priced at 100 percent of their principal amounts and have the following terms:
NYSE: ACF) today announced the pricing of its offering of $250 million principal amount of Convertible Senior Notes due 2011 and $250 million principal amount of Convertible Senior Notes due 2013 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.
The aggregate principal amounts of Senior Subordinated Notes accepted for payment in the offer was determined based on the pro-ration provisions of the indentures governing the Senior Subordinated Notes.
The purchase price for the Senior Subordinated Notes in the offer was equal to $1,000 per $1,000 principal amount of notes tendered and accepted for payment, plus accrued and unpaid interest thereon through September 24, 2002.
The Convertible Subordinated Negotiable Obligations will mature after the final maturity of the increasing rate notes and the Amortizing Notes, and principal amounts payable thereunder will be subordinated in right of payment to the payment of principal of, and interest on, the increasing rate notes and the Amortizing Notes.
60 million principal amount of the company's 12% Senior Notes and U.
No exchange securities other than in authorized principal amounts of $1,000 will be issued.
The Reset Notes, due August 15, 2002, represent an aggregate principal amount of $1,827,948,000.