The notes will represent CDBALF's direct, unconditional, unsubordinated and unsecured obligations and rank at least pari passu with all its other current and future direct, unsecured, unguaranteed and unsubordinated debt
These will be direct unsecured obligations of the company and rank equally in right of payment with all of its existing and future unsecured and unsubordinated debt
In addition, DBRS downgraded the issuer and senior unsubordinated debt
ratings of the Company to A (high) with a stable trend.
The A1 rating is in line with BOC's foreign-currency senior unsecured debt rating and reflects the unconditional and irrevocable guarantee that will be provided by BOC, covering all unsubordinated debt
obligations of BOCNZ," says Daniel Yu, a Moody's Assistant Vice President and Analyst.
In a disclosure on Tuesday, EastWest Bank said the Bangko Sentral ng Pilipinas (BSP) Monetary Board had approved the bank's plan to exercise its call option for unsubordinated debt
issued in 2008.
The notes will be secured by certain present and future undertakings, property and assets of Aimia and some of its subsidiaries, ranking pari passu with the rest of the company's existing and future unsubordinated debt
iPath ETNs typically have a 10 to 30-year maturity and are senior, unsecured, unsubordinated debt
securities issued by Barclays, linked to the performance of a market index.
The offering, secured by the state winding-up company Finansiel Stabilitet A/S, is part of the agreement announced earlier in December, which entitled the bank to request a three-year government-backed guarantee for unsubordinated debt
of up to DKK4.
A Northern Rock spokesman said the additional guarantees were designed to maintain the credit ratings on the bank's unsubordinated debt
, adding that if they were activated, the cost to the Treasury would be "a few hundred millions of pounds".
The notes are unsecured and will rank equally in right of payment to all of Ladder's existing and future unsecured unsubordinated debt
The capital securities are debt instruments, which are subordinated to the company's unsubordinated debt
obligations and treated as equity in the consolidated financial statements under IFRS.
The ETNs are senior, unsecured, unsubordinated debt
securities linked to the performance of an underlying index.