Examples of Tranche B Bonds in a sentence
Tranche B Bonds: In the amount of 10% of principal amount of outstanding bonds.
Tranche B Bonds will begin to be paid after Tranche A Bonds are paid in full.
The first US$10 million principal amount of Tranche A Bonds was drawn down on August 14, 2015 and a second tranche of US$8 million principal amount Tranche B Bonds was drawn down on November 10, 2015.
No payments on Tranche B Bonds will be made until Tranche A Bonds are paid in full and will cease after the Tranche B Bonds mature, and then interest and principal will be paid only to the extent the Transition Charge collected is sufficient to make such payments; andFailure to make payments when due on the Securitization Bonds does not cause any increase in the Transition Charge or in interest rates on the Securitization Bonds.• Settlement Payments.
The term of the Tranche B Bonds is three years extendable for two one-year periods.
If it is assumed that they are going to earn an average interest rate of 7.85% [7.85% is the midpoint between the proposed coupon of 7.00% for tax-exempted Tranche B Bonds and 8.75% for non-tax exempted Tranche B Bonds], then the initial principal of $904.2 for Tranche B Bonds, will grow to become a principal of $20,226 million (for Tranche B Bonds) by the 40th year of the RSA Tranche A Bonds.
The Tranche B Bonds will have a principal amount of US$10 million and are required to be drawn down by December 31, 2015.
Issue Price: 20% discount on all subscriptions of the Super Super Senior Secured Tranche B Bonds.
On October 12, 2015, the Company completed the issue of the second tranche (Tranche B Bonds) of US$20 million principal amount of Bonds to GRF Prime.
A second tranche of US$8 million principal amount Tranche B Bonds was drawn down on November 10, 2015.