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Super Sinker

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Super Sinker Bond
A short-term bond with a coupon equivalent to that of a long-term bond. That is, the bondholder receives a long-term yield in a short period of time. Most super sinker bonds are collateralized by mortgages and are used to reduce prepayment risk.
super sinker
A housing revenue bond issue in which mortgage prepayments are used to retire a specified maturity. Although this particular maturity is far in the future, the bond is likely to be paid off in a relatively short period. Even though an investor in the specified maturity bond is unsure when the security may be retired, the annual return is likely to be relatively high for a short- to intermediate-term holding period.
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6 million and consisted of tax-exempt serial bonds due June 1, 2006-2016 and tax-exempt super sinker bonds with maturities of June 1, 2025, 2035, and 2043.
Fitch Rates Rensselaer Tobacco Asset Securitization Corp's (New York) ... by Business Wire
Indenture provisions for such a circumstance provide adequate protection by trapping cash and limiting the likelihood that any non-mandatory super sinker payments will be made during the next two or three years.
Fitch Dwngrs Hartford Parking Auth, Pkg Sys Rev Bnds to 'BBB' by Business Wire
The term bonds are subject to super sinker redemption payments beginning in 2002.
Fitch Expects To Rt New York Counties Tobacco Trust II Bds `A+' by Business Wire
 
 
 
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