Perpetual Bonds definition
Examples of Perpetual Bonds in a sentence
These include: Perpetual Bonds: Perpetual debentures do not have a maturity date, and the coupon payments pay-out depends on the viability of the issuer in the very long term, it may be deferred or even suspended subject to the terms and conditions of the issue.
Where the obligations to pay income from Perpetual Bonds are not discharged by the Issuer due to the Issuer's refusal to pay income at the Issuer's own discretion, the Issuer shall, no later than the next business day after the date when the decision not to pay income is taken, give notice to that effect to NSD by submitting Bond Issue Acceptance and Servicing Notice (Form Z1.1), in which value "0" shall be put in the field "Coupon income amount per Bond" / "Payment amount per Bond" (as applicable).
In the field "Notes" in the relevant section of Form Z1.1, the Issuer shall provide a reference to the applicable paragraph of the Issue-related Documents which authorizes the Issuer to refuse to make payments on Perpetual Bonds at the Issuer's own discretion.
There is no ability to only subscribe for Tranche A1 Perpetual Bonds without tendering Existing Notes for exchange for Tranche B Perpetual Bonds.
The Company has duly authorized the issue of 9.875% Guaranteed Perpetual Bonds (the “Bonds”), in an aggregate principal amount of U.S.$275,000,000, and has duly authorized the execution and delivery of this Indenture.
The minimum allocation amount for an Investor is GBP2,050,000 Tranche A1 Perpetual Bonds, U.S.$1,000,000 Tranche B1 Perpetual Bonds and U.S.$1,000,000 Tranche B2 Perpetual Bonds (the “Investor Minimum Allocation Amount”) assuming an Initial Capital Call Amount of GBP820,000,000, being the maximum issue size of the Tranche A1 Perpetual Bonds to be issued on the Settlement Date.
The Company will provide evidence to the Administrative Agent of the proper filing, recording or other official action required in connection with the release of any Liens in favor of the creditors under the 2009 Facilities and the Perpetual Bonds effected by the Release Documentation within 10 Business Days of the Closing Date.
Expected settlement date for delivery of the Perpetual Bonds, and immediately on or after, the accession to the Shareholders’ Agreement by the relevant holders of the Tranche A1 Perpetual Bonds.
Allocation of Tranche C Perpetual Bonds, priority of acceptance and the Unmodified Dutch Auction Procedure” in the Exchange Offer Memorandum.
Please refer to the sections entitled “Description of the Exchange Offers – Terms of the Tranche C Exchange Offer – Allocation of Tranche C Perpetual Bonds, priority of acceptance and the Unmodified Dutch Auction Procedure” and “– Reallocation of Tranche C Perpetual Bonds” in the Exchange Offer Memorandum for more details.