First, since the probability of asset substitution is greater for firms with more growth opportunities (which tend to be riskier firms), this hypothesis predicts that such firms are more likely to issue putable
rather than ordinary convertibles (H1).
A Plan for Reducing Future Deposit Insurance Losses: Putable
Subordinated Debt," Federal Reserve Bank of Atlanta, Economic Review (July/August), pp.
50 billion in structured quarterly putable
borrowings, funded by the sale of $8.
6 billion is due; however, approximately $600 million of the company's zero coupon notes due 2036 are putable
by the holders of the notes starting in 2010.
April 3, 2008 /PRNewswire-FirstCall/ -- The interest rate on the Tennessee Valley Authority 1999 Series A Putable
Automatic Rate Reset Securities bonds, traded on the New York Stock Exchange under the symbol "TVE," will be reset from 5.
875% convertible debentures due 2024 become putable
by noteholders on Dec.
6 million of its zero coupon convertible subordinated notes first putable
June 2008 and $175.
However, Fitch also notes that there has been a rise over the last few months of issuers utilizing bond anticipation notes (BANs), as well as extendable maturity commercial paper (ECP), and other putable
instruments without liquidity/enhancement support.
May 5 /PRNewswire/ -- The coupon rate on the Tennessee Valley Authority 1998 Series D Putable
Automatic Rate Reset Securities (PARRS), traded on the New York Stock Exchange under the symbol TVC , will be reset from 5.
today announced that it has completed its offer to exchange its outstanding Zero Coupon Convertible Subordinated Notes Due 2033, First Putable
June 15, 2008 (the "Old 2008 Notes"), and Zero Coupon Convertible Subordinated Notes Due 2033, First Putable
June 15, 2010 (the "Old 2010 Notes," and together with the Old 2008 Notes, the "Old Notes"), for an equal amount of the Company's Zero Coupon Convertible Subordinated Notes Due 2033, First Putable
June 15, 2008 (the "New 2008 Notes"), and Zero Coupon Convertible Subordinated Notes Due 2033, First Putable
June 15, 2010 (the "New 2010 Notes," and together with the New 2008 Notes, the "New Notes").
This appeared indis putable
when we got off at Lambeth North tube station, walked along Lambeth Road, and looked out of our hotel room window at a neighbouring Lambeth Palace.
The transaction utilizes a putable
note, issued by the European Bank for Reconstruction and Development and underwritten by Swiss Re Capital Markets, as collateral for each Class.