Word: refundability
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Despite the quick bond sales, it was a buyer's market, and big lenders drove some hard bargains. Before they would buy, 15 big institutional investors (mostly insurance companies) demanded that the Arkansas Louisiana Gas Co. agree not to try to refund a $35 million issue at a lower rate for the next ten years. The SEC, which usually opposes, in principle, such provisions to freeze current high-interest rates into an issue for long periods, let the clause stand, only because it thought Arkansas Louisiana probably could not have got the money without it. But the clause...
...trying to refund $8 billion of ten-year, 2% World War II bonds, Treasury's George Humphrey faced a problem. Many experts predicted that anywhere from $1.5 to $2 billion of the maturing bonds would be cashed, forcing him to raise that much new money. Instead, Humphrey offered bondholders a choice of new one-year certificates paying 2⅝% interest, or 3½-year notes paying 2⅞%. Last week he announced that 59% of the bonds had been turned in for one-year certificates. Moreover, 38% were exchanged for the 3½-year notes, and only $263 million...
...overestimated the Government's income this year by $2.2 billion. Humphrey will have to raise $6 billion in new money in the next three months. On top of that, he will have to raise about $6 billion more by year's end, perhaps $30 billion overall to refund old securities and float new ones...
...ruled Chinese mainland ran an important ad: they would pay off all their depositors in local currencies on a sliding scale, depending on the dates when their cities were "liberated" by the Communists. The payment would be liberal-and with reason: the Red government had ordered the banks to refund not only the original deposits, but what they would be worth in terms of China's grossly inflated currency. The move would also be a windfall for the government. Unclaimed deposits, said the notice, would be turned over to the national treasury. Under the deal, the banks expect...
...annual appropriation, lest its budget be cut in the years to come. Last week the Marine Corps' commandant, General Lemuel Shepherd, told the House Armed Services Committee of the most non-S.O.P. mili tary maneuver yet. By eliminating purchases of unneeded equipment, the corps has. managed to refund $57 million to the Treasury during fiscal...