The weighted average current coupon
on all investments dropped slightly to 10.8%, primarily due to an increase in equity positions on which there is generally no interest income to 9.1% from 8.2% last year.
"Current Yield" equals the current Coupon
Amount annualized and divided by the closing Indicative Note Value of the Notes on the Coupon Valuation Date, rounded to two decimal places for ease of analysis.
In Figure 1, the value of servicing or OAS SRP (in basis points) increases or decreases based on the current coupon
yield changes of the portfolio versus market yields.
25,415 new savings shares were issued (regular entitlement 1/1/2014 - current coupon
Second, the primary-secondary spread typically relies on the theoretical construct of a "current coupon
MBS." The current coupon
is a hypothetical TBA security that trades at par and has a yield meant to be representative of those on newly issued securities.
A week earlier, the Belize government presented new counter-proposal to the bondholders and according to an official statement, the counter-proposal puts forward alternative scenarios all of which the government says offers only "temporary reductions in the current coupon
rate with modest extensions in average life".
Where, P--the bond price, M--the number of coupon payments in annual terms, A--duration (in days) of the current coupon
period; B--the number of days to the beginning of the next interest period from the settlement day; E duration (in days) of the interest period in which the settlement is made; CFi - i cash flow generated by the bond on account of interest, n--the number of remaining monetary flows from the moment of bond estimation till its repurchase.
The company intends to use the total net proceeds from both the registered direct offering and the underwritten offering to redeem USD25m of junior subordinated debentures which have a current coupon
rate of 7.535%.
The current coupon
rate on the three loans is 12.5% per annum.
Those effects were seen immediately on MBS yields for both Ginnie Mae and Fannie Mae, whose 30-year current coupon
bond yields each fell roughly 50 basis points following the FOMC announcement.
For example, London Drugs' current coupon
book offers Roche Diagnostics' Accu-Chek Aviva Nano or Accu-Chek Compact Plus blood glucose monitor for free with the purchase of a package of test strips.
General Parameters for Subordinated Debt, Middle Market Transactions Minimum Maximum Average Current Coupon
9% 19% 12% PIK Interest -- 9% 2% Warrants % -- 24.4% 3-5% Closing Fee 1.5% 3% 1.75% Target IRR 15% 44.7% 18% Source: PMCF Estimates as of June 2007 Table 2.