The proceeds will be used to pay off debt, including senior notes due in 2018.
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Second, CHK is extending the average maturity schedule of its debt by replacing senior notes due to mature over the next six years with convertible preferred shares that come with no maturity date.
Furthermore, upon the occurence of certain events, the interest rate applicable to the Senior Notes may become 11.0% per annum and the redemption premium may begin to apply prior to the fifth anniversary of the Closing.
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Consider that the average yield for single-B senior unsecured notes issued in the second half of 2012 is 7.07%.
Disclosure: At the time of publication, the author was long Blockbuster Senior Subordinated notes, although positions may change at any time.
The filing also mentions the litigation brought by High River, which alleged the new loans breach terms of Realogy's senior toggle notes contract.
But a sale would probably leave slim pickings for U.S. holders of Venture's now-defaulted bonds, judging from the market's response to events: Senior subordinated notes in Venture have been trading for as little as 3 cents on the dollar.
If Clearwire is unable to repay the PIK Debenture during this 30 day period, it would be entitled to convert the principal amount and accrued interest on the PIK Debenture into a note on terms comparable to the 2015 Senior Secured Notes previously repaid, having a maturity of December 1, 2015.
The most senior cuts issue notes that receive interest from the underlying assets before the more junior ones, whose notes have higher yields because they are riskier.
NPR's senior news analyst Daniel Schorr notes that the Iraq War has now reached its own milestone of sorts.
In some cases, this may mean losing a bit of principal if investors haven't incurred enough interest to cover a CD's early-withdrawal penalty, notes Greg McBride, senior financial analyst at Bankrate.com.
Plus, notes Pascal Aguirre, senior vice president at Adventis consultants, Covad has expanded its business by a shrewd purchase earlier this year of GoBeam, a seller of cheap phone connections over the Net.
But even comparing costs can get complicated: A commission-free ETF may cost more, over time, than a similar fund that requires paying a commission but has a lower expense ratio, notes Joel Dickson, senior investment strategist at Vanguard Group.
In response at least five analysts removed buy ratings on RIM, notes Frederic Ruffy, senior options strategist at WhatsTrading.com but the lowered earnings guidance was only one of the reasons.
Benn Steil, senior fellow at the Council on Foreign Relations, notes companies that list in New York, in aggregate, pay millions of dollars a year to meet U.S. legal and accounting rules and exchange fees.
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As Stephen Green, senior economist with Standard Chartered Bank in Shanghai, notes, even if China takes some money out of U.S. treasury bonds, it's still going to be holding on to a lot of them.
Katz notes that this can be especially problematic when the latecomer or hijacker is a senior manager and the meeting leader is a junior staffer.
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