Separately, Aegean recorded stable operating results in the first quarter of 2018 as network volumes and gross spreads
were largely consistent with the fourth quarter of 2017, reflecting competitive industry conditions and the continued decision to restrain volumes in ports and lines of business with lower margin profiles.
The financing book has also enhanced by 42.44 percent (Sept 2015: 32.79%) with financing to deposit ratio improved to 52.51 percent (Sept 2015: 39.40%), which slightly enhanced the gross spreads
. The net spread after provisions has also improved to 64.88 percent (Sept 2015: 44.43%) chiefly because of reversals of provisions in financing and investments portfolio.
16, 2015 international FOB reference prices of $315/mt (Vietnam rice) and $344/mt (Thailand), the gross spreads
secured by NFA (attributed to ocean freight, insurance, survey fees, etc.) translate to only $99/mt in late 2015 versus $228/mt in late 2008 and 2009, or some $129/mt in savings.
This increase was primarily driven by improvement in gross spreads
as a result of low cost of borrowings and continued low operating expenses.
Underwriting spreads are gross spreads
defined as the difference between the offered amount and the proceeds to the issuer, expressed as the percentage of the offered amount (or issue size; Gande, Puri, and Saunders, 1999).
We find these firms pay lower gross spreads
and go to market faster than the same type of firm that chooses the traditional registration procedure.
The gross spreads
were remarkably low: $1.77 per bond for the pension bonds and $2.25 per bond for the water deal, as shown in Exhibit 2.
NABARD has a modest earnings profile, marked by low gross spreads
, driven largely by lending at mandated rates and increased reliance on borrowings at market rates.
We also examine the differences in offering yield spreads and gross spreads
among shelf public, nonshelf public, and 144A issues.
This was primarily driven by a sharp increase in its gross spreads
because of its reduced borrowing costs and better control on operating expenses.
We examine underpricing, long-run returns, lockup periods, and gross spreads
for penny stock IPOs over the 1990-1998 period.