Specific hedging strategies include treasury rate locks, forward starting swaps
, and interest rate caps and floors.
The company will use the funds to repay its senior revolving credit, settle certain forward starting swaps
contracts, make payments on the sale-leaseback agreement related to its refractory ore treatment plant in Nevada and for general corporate purposes such as exploration and development-related funding and capital returns to stockholders.
The firm aims to use the funds from the offering for repayment of the outstanding balance under the Company's senior revolving credit facility, settlement of certain forward starting swaps
contracts, remaining payments to be made during 2012 in connection with the exercise of the early purchase option under the sale-leaseback agreement relating to the Company's refractory ore treatment plant in Nevada, and for general corporate purposes.
As a result, COPT has discontinued hedge accounting on the 10-year forward starting swaps
and is reclassifying $28.
A key component of the original debt structure plan included nearly $1 billion of debt to be sold with the commitment of insured bonds and forward starting swaps
The airport has indicated that it plans to issue bonds in 2011 to refund its outstanding $171 million in series 2001A bonds, potentially reducing debt service obligations from 2012 onwards through the synthetically lower interest rates associated with the forward starting swaps
Currently, the airport remains committed to $975 million of new long-term debt to be issued by 2011 in conjunction with the commitment of forward starting swaps
The airport is committed to $975 million of long-term debt to be issued by 2011 given the prior execution of forward starting swaps
, of which the termination values under current market conditions exceed $200 million.
In addition, to meet the growing demand for different, more complex structures of interest rate swaps, Interactive Data now delivers independent valuations of forward starting swaps
The series 2006 bonds have been swapped to a fixed rate through the use of four forward starting swaps
with Bear Stearns Capital Markets Inc.
The 2005 series Q bonds, due March 1, 2008-2031, relate to the fourth tranche of the 2003 forward starting swaps
Fitch also notes Scripps Health (Scripps) has entered into six floating- to fixed-rate forward starting swaps
related to the series 2005A-F bonds aggregating $226 million with Citibank, N.