Excerpt from FS Series #1: enabling sub-sovereign bond issuances B3. Case 3: Alternative Financing for Water Utilities — Lessons from a Failed Bond Issue in Indonesia B3a. Background and Environment PUBLIC INVESTMENT IN THE WATER SECTOR HAS BEEN VIRTUALLY ABSENT IN INDONESIA. ACHIEVING INDONESIA’S MILLENNIUM DEVELOPMENT GOAL‚ TO HALVE THE PROPORTION OF PEOPLE WITHOUT SUSTAINABLE ACCESS TO SAFE DRINKING WATER AND BASIC SANITATION BY 2015‚ WOULD REQUIRE A TENFOLD ANNUAL INCREASE IN INVESTMENTS
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Bond SpreadsheetPhase 3 Discussion BoardCheryl PonderColorado Technical University OnlineIntroduction to Corporate FinanceProfessor Richard FendlerFINC 390 – 1204B – 08 Reulters Corporation Bond Spread (Bonds Online‚ 2012) Rating | 1year | 5year | 10years 15 years | 30 years | AAA | 14 | 40 | 68 N/A | 90 | BB | 195 | 225 | 265 N/A | 285 | CCC (JUNK) | 450 | 495 | 515 N/A | 545 | US Treasury Yield | 4.74
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10 Bond Prices and Yields 1. a. Catastrophe bond: Typically issued by an insurance company. They are similar to an insurance policy in that the investor receives coupons and par value‚ but takes a loss in part or all of the principal if a major insurance claim is filed against the issuer. This is provided in exchange for higher than normal coupons. b. Eurobond: They are bonds issued in the currency of one country but sold in other national markets. c. Zero-coupon bond: Zero-coupon bonds are
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Journal of Banking & Finance 36 (2012) 2216–2232 Contents lists available at SciVerse ScienceDirect Journal of Banking & Finance journal homepage: www.elsevier.com/locate/jbf Are corporate bond market returns predictable? Yongmiao Hong a‚b‚ Hai Lin c‚d‚ Chunchi Wu e‚⇑ a Department of Economics‚ Cornell University‚ Ithaca‚ NY 14853‚ USA Wang Yanan Institute for Studies in Economics and MOE Key Laboratory in Econometrics‚ Xiamen University‚ Xiamen 361005‚ China c Department of Accountancy
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Lyons Document Storage Corporation: Bond Accounting In December 2008 Rene Cook sat in her cubicle trying to remember what she had learned in business school about bonds and bond accounting. Ms. Cook‚ a new MBA and special assistant in a training assignment with the company president‚ had just met with David Lyons‚ president of Lyons Document Storage Corporation. He had asked her to think about the possible consequences of repurchasing company bonds outstanding using cash that he felt could
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Value of Money to Security Valuation – Valuation of Bonds and Debt Securities A bond or a debenture is a long term debt instrument carrying a fixed rate of interest which is known to investors. A bond is redeemable after a specified period. Bonds are also called gilt edged securities or gilt when issued by the government since it is free of default risk. Features of a Bond or Debenture • Face Value – Face value is called par value. A bond / debenture is generally issued at a par value and
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March 16‚ 2012 Part One: Vanilla Bonds Abstract Understanding how to properly value a vanilla bond is essential for finance (ctuonline.edu). In theory‚ the present value relationship determines the value of a bond‚ but in practice the actual price is (typically) determined by suggestions from other‚ more liquid mechanisms. The purpose of this work will be to research bonds offered by Safeway (SWY)‚ analyze them‚ and then decide in what situation these bonds would be beneficial for the investor
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Convertible Bonds A convertible bond is a bond that can be converted into shares of common stock. Therefore‚ these are two sources of value for this security: the value of the bond components‚ and the value from possibly converting the security into shares of common stock. Features of a Convertible Bond The basic features of a convertible bond can be illustrated by a hypothetical example. On November 1‚ 2003 ("today")‚ Apple‚ had $400 million in 8.80 percent (annual payments) convertible bonds due in
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Assignment no. 1 Fixed Income Securities and Markets Question A.1 Given the following bond: |starting date |30/09/2011 | |maturity date |30/09/2014 | |coupon rate |4.00% | |coupon frequency |annual | |day count |act/act | |nominal value |100 | a) Calculate the price of the security on
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A MANAGER’S GUIDE TO GOVERNMENT IN THE MARKET PLACE TABLE OF CONTENTS I. INTRODUCTION II. MARKET FAILURE A. MARKET POWER B. EXTERNALITIES C. PUBLIC GOODS D. INCOMPLETE INFORMATION III. RENT SEEKING IV. GOVERNMENT POLICY A. QUOTAS B. TARIFFS V. CONCLUSION I. INTRODUCTION According to Mr. Michael Bay‚ author of the Book‚ “Managerial Economics and Business Strategy”‚ they have treated the market as a place where firms and consumers come together
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