Sentences with phrase «bond covenants»
Bond covenants refer to specific rules or agreements that are outlined in a bond contract. These rules are designed to protect the interests of both the bond issuer and the bondholders. They may determine things like the minimum interest payments, restrictions on the issuer's actions, and measures to ensure the bondholders are repaid. Overall, bond covenants establish guidelines and obligations for both parties involved in the bond agreement. Full definition
For the past several years, Scion has served as financial consultant to DPSH, the project's non-profit owner, in fulfillment of bond covenants.
thesciongroup.com
These teams thoroughly review bond covenants and the financials related to debt issuance (and loan issuance) deals.
Removing tolls that are not revenue neutral violates the existing bond covenants and would negatively impact the authority's bondholders in violation of statutory and constitutional protections.
In fact, most bond covenants provide for no dividend payments, distributions, or redemption of preferred shares if these would result in default under the terms of the bond indentures.
The high interest payments and tight bond covenants severely limited this company's ability to build new homes.
The state law mandating full funding of teacher pensions, which were made iron - clad through «bond covenants» with Wall Street was adopted in 2007, four years BEFORE Dannel Malloy became governor.
As part of the bond covenants with the Wall Street investors, that state of Connecticut was prohibited from repealing that language.
The law not only required the state to make any and all necessary payments for the next 25 years, but that requirement was made iron - clad when the language was added to the bond covenants the accompanied the bonds when they were sold to Wall Street investors.
Connecticut promised in the bond covenant — its contract with investors who bought those bonds — to budget the full pension contribution required by analysts for the entire 25 - year life of the bonds.
He studied the bond covenants and financial choices, and concluded that the company would likely take them out.
Similarly, the company must not have bonding covenants or other agreements that prohibit it from taking on additional debt.