Accordingly, the company prepaid USD0.5m on the unsecured term loans in exchange for an extension of the debt maturity date
on the same to 31 December 2022.
Many issuers are moving to head off this maturity risk by successfully soliciting consent from noteholders to amend maturity dates
of outstanding bonds.
Investors are asking issuers to extend the maturity dates
on FFELP ABS trusts to address maturity concerns raised by rating agencies, which have placed nearly 500 bonds across 39 issuers on downgrade watch.
Another USD 20.9bn of loans that have an original maturity date
beyond 2013 are also currently delinquent, including USD 16.7bn in ten year loans from the 2006-2007 vintage.
, coupon payments and repayment schedule for the auctions are as follows:
"The series 2010-2 and 2010-3 expected maturity dates
have been extended one year from November 2011 to November 2012," the rater said.
31, 1988 (the day before the maturity date
), the corporation could have continued to defer the gain until the extended maturity date
subsidiaries were payable on demand or on fixed maturity dates
and provided for interest.
The Sumitomo substitute LOC provides coverage for the principal amount of the notes and interest on the maturity dates
of the notes.
(Note: Under this definition, all interest on an instrument is considered OID if its terms provide for an interest holiday of more than one year at any time between the issue and maturity dates
.) In order to determine IP, an instrument must be analyzed to determine if all or a part of it is publicly traded and if it was issued for property that is publicly traded.
iSECUREtrac said that in addition to extending the maturity dates
, the documents capitalised all accrued and unpaid interest as well as the outstanding principal balance on the equipment term loan into a new note payable due 1 January 2015 and established quarterly principal payments of USD125,000, beginning 31 March 2012.
7701(i), a TMP is an entity - "substantially all" of whose assets are debt obligations (or interests therein), more than 50% of which are real estate mortgages (or interests therein); - that is the obligor under debt obligations with two or more maturity dates
(or with the same maturity but different rights relating to acceleration of maturity); and - whose payments on the debt obligations are required (or are arranged) to bear a relationship to payments on the underlying debt-obligation assets.