The tender offers are intended to allow the company to issue new debt securities to fund the repurchase of the Securities, thereby extending the maturity date of its near-term debt securities and reducing the amounts outstanding under the higher-cost portion of its debt security
The DSTs are entrusted with the responsibility of monitoring payment of profit, redemption of the principal amount to the debt security
holders, and ensure compliance with the covenants of the respective trust deeds while reporting non-compliance, if any, to the SECP at present, the said reporting is being done manually, however, with the introduction of CDMRS, all reporting will be automated, thereby making the process for DSTs effective in terms of time and cost.
Furthermore, for protection of investors, approval of two-thirds of the outstanding debt securities holders in value has been made mandatory in case of restructuring/rescheduling of any debt security
. The existing DSTs have been allowed one-year timeframe to comply with the requirements of the revised regulations.
GDNs are a debt security
version of the traditional equity-based depositary receipt (DR) structure, enabling cross-border access to local debt securities for broker-dealers and institutional investors, namely in the United States for qualified institutional buyers and outside the United States for non-U.S.
The similarities and differences between the three different debt security
categories are summarized in Exhibit 1.
The debt security
is an efficient instrument guaranteeing collection of claims.
International Resource News-10 September 2008-Barrick Announces Debt Security
Offering(C)2008 ENPublishing - http://www.enpublishing.co.uk
A debt security
is any instrument that is traded more or less freely among investors in the marketplace.
This SAS uses the definitions of debt security
and equity security that are in FASB Statement No.
Because the current accounting for a debt security
is based not only on the characteristics of the asset but also on management's plan for holding or disposing of the investment, such intent-based accounting impairs comparability.
Via debt security
, he was able to raise $144 million in new capital.