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Unit 9: Methods of Redemption-II

13. Expired 14. Open Notes
15. Purchases

9.7 Further Readings

Books Magazines and Journals
Barker, William W, SEC Registration of Public Offerings under the Securities Act of
1933. Chicago: American Bar Association, 1997.
Brown, Meredith, ed. Mechanics of Global Equity Offerings: Structuring the Offering
and Negotiating the Underwriting Agreement. Cambridge, MA: Kluwer Law and
Taxation Publishers, 1995.
Goldblatt, Jennifer, “Market Ho-Hum about New Revenue Limit on Securities
Underwriting.”American Banker, 26 December 1996, 20.
Invest in an IPO or DPO. Chicago: Dearborn Trade, 1998.
Johnson, Hazel J, The Banker’s Guide to Investment Banking: Securities and
Underwriting Activities in Commercial Banking. New York: McGraw-Hill Professional
Book Group, 1996.

Lipman, Frederick D, Going Public: Everything You Need to Know to Successfully
Turn a Private Enterprise into a Publicly Traded Company. Upland, PA: DIANE
Publishing, 1998.

Shillinglaw, Gordon, Accounting: A Management Approach. 9th ed. New York:
McGraw-Hill Higher Education, 1992.

Online links http://www.articlesbase.com/college-and-university-articles/redemption-of-
debentures-5644906.html

http://www.scribd.com/doc/24202747/Study-Note-7-4-Page-542-564
http://dynamictutorial.blogspot.in/2012/02/company-account-debentures.html

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Case Study 18 January. For Immediate Release

THFC Bond deal breaks 5% Cost barrier!
At a time when bank pricing is once again increasing for housing associations, THFC took
advantage of continued low Gilt yields to issue a £131m follow on (tap) issue of its 32 year
THFC Funding (3) deal. The deal was lead managed by Royal Bank of Canada and Royal
Bank of Scotland and was for ten underlying borrowers. The yield on the deal was 4.94%.
The 5% barrier is an important psychological barrier on long term deals for investors and
borrowers alike. “Since 2006 out of £3.6bn of HA public bond issuance, only £180m has
priced below 5% - and we had been responsible for £69m of that” said Piers Williamson,
Chief Executive of THFC. THFC had to pay a credit spread on the deal of 2%, the highest it
Contd...

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