Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Special bond structures are the municipal securities bearing special security structures. They are of two types - insured bonds and pre-refunded bonds.
Insured Bonds: Insured bonds are the bonds secured by the issuer's revenue as well as insurance policies written by the commercial insurance companies. Insurance on a municipal bond is nothing but an agreement by the insurance company to pay the bondholder the amount due on a stated maturity if the issuer defaults on the issue. Once issued, the insurance company cannot cancel its contract for the entire life of the municipal bond.
Pre-refunded Municipal Bonds: Bonds originally issued either as revenue bonds or general obligation bonds and later pre-refunded by the issuers are called pre-refunded municipal bonds. Pre-refunding normally occurs when the original bonds are escrowed or collateralized by direct obligations guaranteed by the US government.
For this purpose, a trust is created and all the securities guaranteed by the US government are placed into it. In the trust, the securities are arranged in a manner that cash-flows from these securities match the issuer's obligations to pay. When these cash-flows match with the issuer's obligations to pay, then the pre-refunded bonds no longer are secured as the general obligations or revenue bonds. The reason is - these bonds are secured by the cash flows held in the escrow account. This matching of cash flows with the issuer's obligation renders these municipal bonds with less credit risk and makes them the safest municipal bonds.
capital structure
What does it mean when we say that the correlation coefficient for two variables is -1? What does it mean if this value were zero? What does it mean if it were +1? Correlation
The case of McKesson & Robbins scandal (1938) was happen due to internal fraud. This case is also happen by the faulty work of board of directors. The organization of McKesson & Ro
Q. Calculation of WMCC? The calculation of WMCC requires several steps to be taken and is subject to the following assumptions: 1) The WMCC is calculated on the basis of market
Question: (a) Describe the main elements of Working capital management? (b) Belle Rive Ltd Belle Rive Ltd has an annual turnover of Rs 60 million of which 80% is on cr
Cost of Debt (k ) : This describes the rate of interest payable on debt. The cost of debt funds may be calculated when the debt is redeemable or irredeemable. therefore, when deb
Discuss risk from the perspective of the Capital Asset Pricing Model (CAPM). The Capital Asset Pricing Model or CAPM be able to be used to compute the appropriate required rate
1. role financial intermediaries 2. nature and role of money markets
The following particulars relate to ABC Ltd. at the end of 2008: (i) Rs. 500,000 equity shares of Rs. 10 each. Present dividend per share is Rs. 15; Market price Rs. 100 per sh
how do we compute for benefits can derrive out of using lockbox system?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd