Previous work in this area has analyzed these provisions in terms of interest rate risk,(1) default risk,(2) and the "accumulation game," in which investors increase the value of a sinking fund bond
issue by increasing the concentration of its ownership.
the "Company") today announced that the Company has fully redeemed its 12% Sinking Fund Bonds
due December 31, 2007, which had an outstanding principal balance of $9,036,000, at their regular redemption price of 102% of par ($1,020.
Conventional sinking fund bonds
typically make annual sinking fund payments, which commence after some grace period: |Mathematical Expression Omitted~ during the grace period; |Mathematical Expression Omitted~, a positive constant, on each sinking fund date, with a balloon payment |Mathematical Expression Omitted~ (with S* possibly equal to S) on the maturity date; and |Mathematical Expression Omitted~ for all other dates.
Norman Swanton, the Chairman and Chief Executive Officer of the Company noted that "the retirement and redemption of both our outstanding 12% Sinking Fund Convertible Bonds due 2017 and our outstanding 12% Sinking Fund Bonds
due 2007, having a combined outstanding balance of $14.
441 per cent First Mortgage Sinking Fund Bonds
, due August 15, 2035.
today announced that the company has elected to fully redeem before maturity its 12% Sinking Fund Bonds
due December 31, 2007, at their regular redemption price of 102% of the principal amount thereof ($1,020.
15, 1999-2015 with special sinking fund bonds
15, 2002-2019 with $3,475,000 special sinking fund bonds
15, 1999-2021, with $4,500,000 special sinking fund bonds
due $1,500,000 each on Oct.
15, 2024 and special sinking fund bonds
of $12,000,000 due Oct.
17 /PRNewswire/ -- Baltimore Gas and Electric Company (NYSE: BGE) announced today the redemption of all $29,916,000 principal amount outstanding 4-1/2 percent Series due 1994 First Refunding Mortgage Sinking Fund Bonds
18 /PRNewswire/ -- Kramer, Levin, Naftalis, Nessen, Kamin & Frankel announced today on behalf of certain holders of 9-3/8 percent sinking fund bonds