Quarterly Income Debt Securities


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Quarterly Income Debt Securities

Also called QUIDS. Tradable debt securities representing the debt of a limited partnership. The limited partnership is a subsidiary of another company and exists only for the purpose of issuing the QUIDS. The proceeds from QUIDS are lent to the partnership's parent company. These securities thus combine aspects of stocks and bonds; they pay coupons on a quarterly basis and usually have a par value of $25. They are similar to QUIPS, but, in the event of liquidation, QUIDS have higher priority.
References in periodicals archive ?
NYSE:AYE) announced today that its subsidiary, West Penn Power Company, doing business as Allegheny Power, will call on May 22, 2002, for the redemption of all outstanding shares of its 8 percent Quarterly Income Debt Securities (QUIDS(SM)(a)) Junior Subordinated Deferrable Interest Debentures, Series A (NYSE:WQP), due June 30, 2025, with a value of $70 million.
Proceeds of the new issue will be used to redeem $70 million of quarterly income debt securities (QUIDS) and for general corporate purposes.
TVA's power bonds are traded on the bond market of the New York Stock Exchange, and its Quarterly Income Debt Securities and first series of Putable Automatic Rate Reset Securities are traded on the New York Stock Exchange under the equity symbols TVA, TVB, TVC and TVE.
The funds will be used to redeem $50 million of 8% series first mortgage bonds due June 1, 2006, and $45,456,500 of 8% quarterly income debt securities (QUIDs) due Sept.
EIX Trusts I, II and III have been created for the sole purpose of issuing QUIPS, and are funded by Quarterly Income Debt Securities (QUIDS) to be issued to the Trusts by EIX.
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