Debt Flashcards
1
Q
Standard order priority for municipal bond issue
A
1) Pre-sale
2) Group
3) Designated member
2
Q
Reoffering price (yield)
A
The price at which the bonds are sold to the PUBLIC!
3
Q
Spread
A
Difference between the price the syndicate pays the issuer and the reoffering price!
4
Q
Prime Bankers Acceptance
A
Is one in which is of sufficient quality to be eligible for trading by the Federal reserve trading desk in new york.
5
Q
Level Debt Service
A
Principal repayments increases as the years progress.
