Jan 19, 2017 Operating Mechanism of a Variable Rate Demand Obligation Typically, a VRDO issuer would have a remarketing agent, i.e. a bank or other Variable Rate Bonds and the Sunnyvale Variable Rate Refunding Certificates. As bond counsel, the firm has participated in the issuance of almost every type of fixed rate and variable rate obligations; bonds sold by remarketing agents or Jun 6, 2019 The variable rate demand obligation (VRDO) market, a $140bn niche for rates reset on a weekly or even daily basis by “remarketing agents”. Floating Rate Certificates. (same rating as underlying bonds). Remarking. Agent. (typically same entity as the Trustor who facilitates TOB). Remarketing. Variable Rate Demand Preferred (VRDP) Preferred shares issued by a closed- end fund featuring floating rate dividends set via weekly remarketing, with a fixed In the event that the remarketing agent is unable to remarket the. VRDOs, the liquidity provider will buy the bonds, which then become the so-called. “bank bonds” accrued interest: (1) The dollar amount of interest accrued on a municipal Usual computations include "bond years" per maturity or per an interest rate, and total remarketing: A formal re-underwriting of a bond for which the form or structure is Most commonly used in connection with changing variable rate to fixed rate
Such a Bond bears interest at rates that may be reset by a remarketing agent. A variable rate demand Bond may be held by a particular holder for any period and normally would be “put” if the holder has other needs for its funds or market interest rates have shifted upward such that the rate borne by the Bond is not currently attractive.
An unsealed whistleblower lawsuit accuses eight Wall Street and regional banks and broker-dealers that served as remarketing agents of fraud and collusion in resetting rates for variable rate Variable rate remarketing—We remarket 156 weekly and daily priced variable rate issues totaling more than $2.8 billion. We rank among the top 10 firms in the nation in the number of daily priced variable rate issues that we remarket.* Strong & deep sales distribution Variable Rate Bonds: (i) may be issued bearing interest at a variable interest rate or rates, as more fully set forth in the related Supplemental Indenture, including but not limited to variable interest rates that are reset daily or weekly by the Remarketing Agent and variable interest rates commonly referred to as “flexible”, “adjustable” and “commercial paper” (including under circumstances in which specified Bonds of a Series bear interest at rates that differ from the rates The interest rate payable on the Bonds is reset periodically — typically weekly, although reset intervals vary from Bond to Bond. Although the interest rate is reset periodically, the Bonds usually mature 20-30 years from their original issue date. the Variable Rate Demand Bonds at the remarketing price. In the event the Remarketing Agent owns any Variable Rate Demand Bonds for its own account, it may, in its sole discretion in a secondary market transaction outside the tender process, offer such Variable Rate Demand
regarding the future use, procurement and execution of variable rate debt and should be periodically reset by a remarketing agent, through an auction process or set fixed rate bonds and improving the relative pricing of new fixed rate.
An unsealed whistleblower lawsuit accuses eight Wall Street and regional banks and broker-dealers that served as remarketing agents of fraud and collusion in resetting rates for variable rate Variable rate remarketing—We remarket 156 weekly and daily priced variable rate issues totaling more than $2.8 billion. We rank among the top 10 firms in the nation in the number of daily priced variable rate issues that we remarket.* Strong & deep sales distribution Variable Rate Bonds: (i) may be issued bearing interest at a variable interest rate or rates, as more fully set forth in the related Supplemental Indenture, including but not limited to variable interest rates that are reset daily or weekly by the Remarketing Agent and variable interest rates commonly referred to as “flexible”, “adjustable” and “commercial paper” (including under circumstances in which specified Bonds of a Series bear interest at rates that differ from the rates
Jan 19, 2017 Operating Mechanism of a Variable Rate Demand Obligation Typically, a VRDO issuer would have a remarketing agent, i.e. a bank or other Variable Rate Bonds and the Sunnyvale Variable Rate Refunding Certificates.
Nov 16, 2017 Fixed Rate Bonds – An interest rate on a security that does not change for Typically, these securities are floating or variable rate securities, with the put Remarketing risk – Under a soft put structure, if unable to pay debt or.
The principal advantages of such bond financing are the low interest rates and the Bonds offer considerable flexibility in structuring terms, such as variable and Such a Bond bears interest at rates that may be reset by a remarketing agent.
Aug 17, 2018 Under the State's current variable-rate bonds, the State pays State had agreements with various banks to remarket the bonds and agree to Apr 12, 2018 Remarketing agents report rate resets to the Municipal Securities They explain, "VRDOs are tax-exempt, variable rate bonds that are Nov 16, 2017 Fixed Rate Bonds – An interest rate on a security that does not change for Typically, these securities are floating or variable rate securities, with the put Remarketing risk – Under a soft put structure, if unable to pay debt or. May 31, 2016 Single Family Mortgage Class I Adjustable Rate Bonds. $41,955,000. $9,225,000 Remarketing Agents for Adjustable Rate Bonds..18. Dec 27, 2007 A tender option bond (from now on TOB) is the municipal bond Typically the floating rate is set by a dealer firm (called the "remarketing agent") based on It goes by the name VRDO (Variable Rate Demand Obligation) or