Tob tender option bond
WebbThe Fund may invest in inverse floating rate municipal securities, also known as tender option bonds. The Fund's use of tender option bonds to more efficiently implement its investment strategy may create up to 10% effective leverage. For term definitions and index descriptions, please access the glossary in the footer. Fund basics WebbFör 1 dag sedan · Fitch Rates Tender Option Bond, Series 2024-XF1523 Trust. Thu 13 Apr, 2024 - 11:08 AM ET. Fitch Ratings - New York - 13 Apr 2024: Fitch Ratings has assigned …
Tob tender option bond
Did you know?
WebbRegistered Fund Tender Option Bond Financings Continued 2 Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates The holder of a TOB must have the right to tender such bonds to the issuing entity for purchase at any time upon no more than 397 days’ notice. WebbTender Option Bonds . The Trust currently leverages its assets through the use of TOB Residuals, which are derivative interests in municipal bonds. The TOB Residuals in which the Trust will invest pay interest or income that, in the opinion of counsel to the issuer of such TOB Residuals, is exempt from regular U.S. federal income tax.
Webb7 okt. 2008 · Piper Jaffray Companies (NYSE: PJC) today announced that it has determined its tender option bond (TOB) program no longer qualifies for off-balance sheet accounting treatment, and has consolidated the assets and liabilities of the program onto its balance sheet. The firm took this action because current volatility in the credit markets have ... WebbFör 1 dag sedan · Fitch Ratings - New York - 13 Apr 2024: Fitch Ratings has taken various conforming rating actions on U.S. enhanced municipal bonds and tender option bonds (TOBs) corresponding to actions taken on their associated enhancement providers, liquidity providers or underlying bonds. Key Rating Drivers
Webb12 dec. 2011 · A TOB is a financing arrangement in which one or more highly-rated, tax-exempt municipal bonds is deposited into a trust that issues two classes of securities: a floating-rate class (the “ Floaters ”) and an inverse floating-rate, or residual, class (the “ Inverse Floaters ”). WebbDeutsche Bank Trust Company Americas Easy 1-Click Apply. Tender Option Bond (TOB) Account Manager - Assistant Vice President job in New York, NY. View Job description, benefits and responsibilities. Find out if you meet the requirements!
Webb10 apr. 2024 · Fitch Ratings - New York - 10 Apr 2024: Fitch Ratings has assigned the following ratings to the Puttable Floating Rate Receipts (Floater Receipts), Inverse Floating Rate Receipts (Residual Receipts) and Custodial Receipts of the Tender Option Bond Trust Series listed below: --Floater Receipts, Series 2024-XF1522 'AA-/F1+'; Stable Outlook;
Webb5 apr. 2024 · A way for municipal bond managers to acquire leverage is by using tender option bonds (TOBs). Tender option bonds are a structured product held in the form of a trust fund. The municipal bond manager … nursing schools in chester county paWebbTender Option Bond (TOB) programs were created by large US banks in the 1980s to efficiently finance their proprietary tax exempt municipal bond investments. As their … nursing schools in canton ohioWebb6 feb. 2014 · The tender option bond market is estimated to be approximately $70-80 billion in size and has historically accounted for approximately 25 to 30% of the assets of municipal money market funds. nursing schools in calgary albertaWebb31 jan. 2008 · BOND INSURERS' WOES are sinking deeper into the normally placid municipal-bond market and causing new disruptions in short-term debt commonly owned by money-market funds. At the center of these... nursing schools in chicago illinois in 1940Webb7 feb. 2024 · S&P Global Ratings is providing a recap of rated tender option bond (TOB) trust activity in 2024 as well as a review of our total rated portfolio. TOB 2024 new … noah soccerwayWebb30 nov. 2005 · Tender option bond programs have continued to have a strong following among sophisticated investors in the municipal market despite the flattening yield curve, … nursing schools in cebu cityWebbTender option bond (TOB) programs were developed to create synthetic short-term paper with a put feature that makes it eligible for money market funds. In a typical TOB structure, a fixed-rate bond or note is deposited into a trust. The trust issues two new securities: ... noahs take away herning