secured lease obligation bond

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Secured Lease Obligation Bond

A debt security that is secured by a lease on an asset. That is, the revenue the issuer obtains from the lease guarantees payment on the bond. It is important to note that only the lease (or a lease coupled with a lien on the asset) secures the bond. This is a common financing tool for electric companies building power stations.

secured lease obligation bond (SLOB)

A debt obligation serviced by lease payments on a single asset. The debt may be secured only by the lease or by a combination of the lease and a lien on the asset being leased. SLOBs are used primarily by electric utilities to finance power stations.
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NEW YORK -- Fitch Ratings has published a report on Palm Beach County School Board, FL's 2010 lease obligation bonds.
147 billion in pass-through certificates, representing interests in secured lease obligation bonds, and then guaranteeing MG's obligations to the new Owner Trusts.
147 billion in pass-through certificates representing secured lease obligation bonds guaranteed by MG and backed by an EME note to MG, which will keep the transaction credit neutral to EMM lenders.
The Midland Cogeneration Venture Limited Partnership ("MCV") today announced that on July 23, 2002, it has made its final payment on the senior secured lease obligation bonds issued by the Midland Funding Corporation I.
4 billion of appropriations backed lease obligation bonds of the state.
I's outstanding $456 million senior secured lease obligation bonds, series C, due 2002 have been upgraded to 'BB+' from 'BB' by Fitch Investors Service.
Fitch Ratings has removed the Rating Watch Negative from the 'BB' rating on Midland Cogeneration Venture LP's (MCV) $567 million lease obligation bonds (the MCV bonds).
Fitch Ratings has lowered the rating of Midland Cogeneration Venture LP's (MCV) $567 million subordinate lease obligation bonds (the MCV bonds) to 'BB' from 'BB+'.
The proceeds are expected to be used to fund the repurchase of two series of secured lease obligation bonds (SLOBs) issued by CTC Mansfield Funding Corp.
lease obligation bonds `BB-` (Double-B-Minus) and preferred stock `B+` (Single-B-Plus).
INDEPENDENCE, Ohio, July 16 /PRNewswire/ -- The Cleveland Electric Illuminating Company and The Toledo Edison Company, two operating subsidiaries of Centerior Energy Corporation (NYSE: CX), announced they have refinanced $873 million of high-interest Secured Lease Obligation Bonds (SLOBs).
8 million issuance through GG1C Funding Corporation (GG1C) of secured lease obligation bonds (SLOBs), 5.