The district is party to a swap option
related to $116.
Although the impact of the charge in the first three quarters was not classified in expense because it was not material, the Partnership has elected to adjust its 2002 quarterly results in order to more clearly reflect the timing of the change in fair value of the swap options
in earnings during the year.
The Authority asserts, among other things, that the swap option
does not comply with state statute.
The current offering refunds the bonds affected by the swap option
and frees up sufficient funds to make termination payments if necessary; however, the authority has not pledged to set these funds aside or otherwise segregate them to make the termination payment.
CNMC has entered into a forward starting swap option
to synthetically swap the series 2005 bonds (notional amount of $150 million) from variable to fixed rate.
In addition, a recent swap option
, if exercised by the counterparty, would apply to 43% of the system debt, a large proportion, with potential credit risks inherent to such instruments.
The swap option
agreement with Merrill Lynch provides for payment in 2006 and 2007 with these payments reducing debt service costs borne by the highway fund.
Indian lender, IndusInd Bank (NSE: INDUSINDBK), plans to exploit Reserve Bank of India's window of swap options
, to raise USD300m from overseas investors.
Dozens shouted their message in unison at the start of the meeting, calling on state officials to "tax the rich" and halt multimillion-dollar payments to banks for interest rate swap options
, or "swaptions," before resorting to service cuts and higher fares.
That could include higher interest rates or equity swap options
to persuade creditors to give up claims to key assets, like the profitable port operator.
We believe that this association with Property Swap Shop, will augment the strong track record of both our companies in creating and managing property swap options
for our clients both in both countries," commented Peter Penhall, Chief Executive, Gowealthy.
Liverpool would have to pay about pounds 15m and have several fringe players as swap options