The provisional rating on the Class A-1 Notes and new rating on the Class A-2 Notes address the timely payment of interest (excluding the additional interest payable at the Post-Default Rate, as defined in the NPSA referred to above) and the ultimate payment of principal on or before the
Stated Maturity of August 30, 2029.
The Notes bear interest at a fixed interest rate of 4.21% per annum and have a
stated maturity date of September 15, 2027.
Fitch's rating of the ESN addresses the likelihood of ultimate repayment of the initial balance by their
stated maturity date in September 2065.
Insurance-linked securities essentially are debt-like instruments with
stated maturity and terms.
The notes may be converted at the option of holders into its common shares at any time prior to the close of business on the business day immediately preceding the
stated maturity date of the notes.
The Sukuk was the GCC's first perpetual bond with no
stated maturity.
The proceeds of the sukuk will be used to partly refinance JAFZA's outstanding 7.5 billion dirhams ($2bn) sukuk due for redemption in November 2012, ahead of the
stated maturity.
"The proceeds of the sukuk will be used to partly refinance Jafz's outstanding Dh7.5 billion sukuk due November 2012, ahead of the
stated maturity. Jafz will also contribute proceeds of Dh4.4 billion bank facility and its own cash sources towards the redemption," according to the statement.
(2) If the bond or note was originally issued at a discount (that is, at a price below the
stated maturity, or face amount) after July 1, 1982, any holder who did not pay more than the face value of the obligation must include in income each year a daily share of the "original issue discount" as discussed in Q 7737.
CMOs can be complex and difficult to understand for investors who are accustomed to purchasing fixed-income securities with
stated maturity dates.
For a significant minority of loans that have no
stated maturity, we impute maturity as the time until the interest is first compounded or paid.