With the big banks (JP Morgan, Morgan Stanley, Wells Fargo, etc) investing in tax lien certificates, rates that were in the low teens just 3-4 years ago are now bid down to 0-0.25% due to intense competition as your article states.
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Existing lenders were in a power position, having to amend to approve the incremental debt used to fund the dividend, and second-lien investors in particular were concerned about the additional first-lien debt coming in ahead of them.
Of course, second-lien debt is a niche product for issuers that require higher leverage than is usually available in the first-lien market, but that in many cases are locked out of the regular-way high-yield bond market because of size, credit quality, or complexity.
Mr Chen is vying for second place with Mr Lien in the polls, some way behind Mr Soong.
But there was no mistaking that Lien was in town for serious business.
The IRS made changes to lien policies in 2011 and expanded the threshold for small businesses to resolve tax issues through installment agreements.
Though he may be thankful for the popular Lee's support in the campaign, Lien is mindful that, as president, he will not want to have his ex-boss breathing down his neck.
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To put these figures in context, second-lien loans have even printed wide of high-yield bonds.
In 2008, IRS announced lien relief for taxpayers trying to refinance or sell a home.
In addition, TIGTA found 100% noncompliance with new computer-coding procedures put in place in 2007 to monitor undeliverable lien notices.
In 2008, the IRS announced lien relief for people trying to refinance or sell a home.
The company plans to originate and invest in first- and second-lien loans that will have a term of 3-6 years.
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As does Lien Cappelle, back in her home in Bruges, now with an extra 300 euros in her pocket each month.
If successful, Husky will be the first issuer to have a first-lien repricing since Gibson Energy in May.
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Jon Orlosky has experience in advocating for the rights of tax lien holders against careless property owners and holders of other security interest.
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Tucker failed to disclose his two bankruptcies, federal tax lien, three judgments, and one state tax lien on Forms U4, in violation of NASD Rule 2110 and IM-1001-1.
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In FY 2010, the IRS further increased lien filings to about 1.1 million.
Scenic designer Mimi Lien, who has a background in architecture, was conscious that the set needed to be fully functional and visually appealing at all angles.
In 84% of the 300 cases of undelivered lien notices TIGTA reviewed, IRS employees did not perform the required research to find a different address.
In addition, TIGTA estimated that about 2% of lien notices during the same 12 months may have been mailed late to the taxpayers themselves.
If the tax goes unpaid, the IRS and the State tax authority will issue notices of tax lien against husband and wife and record them in the local register of deeds office.
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He even suggested to the vice-Chairman of the CME that he could argue in front of the court that the judge grant a lien to CME on the MF Global holding company assets if the exchange were to put up a temporary fund to make MF customers whole.
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The lien is for the same year, 2008, in which Caylee was allegedly murdered.
In part, the premium reflects the inferior liquidity of second-lien paper.
She says it's important for anyone interested in buying foreclosed property to make sure it's free of any lien.
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Since September, the average debt multiple through second-lien is a hefty 5.4x, versus 5.1x earlier in the year, with little debt cushion further down in the capital structure.
In contravention of a public, competitive auction, Crusader conspired to rig the tax lien bidding by allocating certain liens to members of the conspiracy, thus ensuring that the prevailing bidder took the lien with an artificially higher interest rate than would likely have been derived from open competitive bidding.
Further, the second lien debt has started to trade based on recovery value rather than yield, in our view.
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