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serial bonds are priced to yield from N N in N to N N in N |
the bonds are insured and <unk> |
santa ana community redevelopment agency calif. |
$ N million of tax allocation bonds N series <unk> due N N and N tentatively priced by a donaldson lufkin & jenrette securities corp. group to yield from N N in N to N N in N |
the N N N term bonds due N are priced at N N to yield N N and N N N term bonds due N are priced at N to yield N N |
serial bonds are priced at par to yield from N N in N to N N in N |
the bonds are rated single-a by s&p according to the lead underwriter |
maryland community development administration department of housing and community development |
$ N million of single-family program bonds N fourth and fifth series tentatively priced by a merrill lynch capital markets group to yield from N N in N for fourth series bonds to N N in N for fifth series bonds |
there is $ N million of fourth series bonds the interest on which is not subject to the federal alternative minimum tax |
they mature N N and N |
fourth series serial bonds are priced at par to yield from N N in N to N N in N |
the N N term bonds due N are priced to yield N N and N N term bonds due N are priced to yield N N |
there is $ N million of fifth series bonds which are subject to the federal alternative minimum tax |
they mature in N N and N |
bonds due in N have a N N N coupon and are priced at par |
the N N N bonds due N are priced to yield N N and N N N bonds due N are priced at N N to yield N N |
the underwriters expect a double-a rating from moody 's |
<unk> co japan |
$ N million of eurobonds due nov. N N with equity-purchase warrants indicating a N N N coupon at par via daiwa europe ltd |
each $ N bond carries one warrant exercisable from nov. N N through nov. N N to buy shares at an expected premium of N N N to the closing price when terms are fixed tuesday |
fees N N |
<unk> <unk> <unk> <unk> sweden |
N billion yen of N N eurobonds due nov. N N priced at N N to yield N N less full fees via mitsui finance international |
guaranteed by <unk> <unk> |
fees N N |
<unk> & co japan |
N million swiss francs of privately placed convertible notes due march N N with a fixed N N coupon at par via yamaichi bank switzerland |
put option march N N at a fixed N N to yield N N |
each N swiss franc note is convertible from nov. N N to march N N at a N N premium over the closing share price monday when terms are scheduled to be fixed |
fees N N |
mitsubishi pencil co japan |
N million swiss francs of privately placed convertible notes due dec. N N with a fixed N N coupon at par via union bank of switzerland |
put option on dec. N N at a fixed N N to yield N N |
each N swiss franc note is convertible from dec. N N to dec. N N at a N N premium over the closing share price tuesday when terms are scheduled to be fixed |
fees N N |
<unk> <unk> corp japan |
N million swiss francs of N N N privately placed notes due nov. N N priced at N N via dai-ichi kangyo bank <unk> |
guarantee by dai-ichi kangyo bank ltd |
fees N N |
although his team lost the world series san francisco giants owner bob <unk> hopes to have a new home for them |
he is an <unk> fan of a proposition on next week 's ballot to help build a replacement for candlestick park |
small wonder since he 's asking san francisco taxpayers to sink up to $ N million into the new stadium |
as san francisco digs out from the pretty big one opponents say the last thing the city can afford is an expensive new stadium |
a stadium craze is sweeping the country |
it 's fueled by the increasing profitability of <unk> teams |
something like one-third of the nation 's N largest cities are thinking about new stadiums ranging from cleveland to san antonio and st. <unk> |
most <unk> claim the new sports <unk> will be <unk> for their city |
<unk> university economist dean <unk> <unk> at that |
he has looked at N baseball and football stadiums and found that only one private <unk> stadium brought more money into a city than it took out |
stadiums tend to <unk> existing wealth within a community not create more of it |
voters generally agree when they are given a chance to decide if they want to sink their own tax dollars into a new <unk> |
san francisco voters rejected a new <unk> two years ago |
last month phoenix voters turned <unk> down on a $ N million stadium bond and tax proposition |
its backers <unk> every important interest on their team a popular mayor the chamber of commerce the major media and spent $ N on promotion |
but voters decided that if the stadium was such a good idea someone would build it himself and rejected it N N to N N |
in san francisco its backers concede the <unk> is at best running even in the polls |
george christopher the former san francisco mayor who built candlestick park for the giants in the 1960s wo n't <unk> the new <unk> |
he says he had candlestick built because the giants claimed they needed N parking <unk> |
since the new park will have only N <unk> mr. christopher thinks backers are playing some fiscal games of their own with the voters |
stadium <unk> claim that without public money they would never be built |
miami <unk> owner joe <unk> <unk> and he can prove it |
several years ago he gave up trying to persuade miami to improve its <unk> orange bowl and instead built his own $ N million <unk> with private funds |
he did n't see why the taxpayers should help build something he would then use to turn a healthy profit |
this stadium shows that anything government can do we can do better mr. <unk> says |
but to moon <unk> the former new orleans mayor who helped build that city 's <unk> money-losing <unk> questions of who benefits or the bottom line are of little <unk> |
the <unk> is an exercise in optimism a statement of faith he has said |
it is the very building of it that is important not how much of it is used or its economics |
an egyptian <unk> could n't have justified his <unk> any better |
but <unk> has moved forward since then |
today taxpayers get to vote most of the time on whether they want to finance the building schemes of our modern political <unk> or let private money <unk> these <unk> for public <unk> |
reed international plc said that net income for the six months ended oct. N slipped N N to # N million $ N million or N pence a share from # N million $ N million or N pence a share |
the british paper packaging and publishing concern said profit from continuing lines fell N N to # N million from # N million |
while there were no one-time gains or losses in the latest period there was a one-time gain of # N million in the N period |
and while there was no profit this year from discontinued operations last year they contributed # N million before tax |
pretax profit fell N N to # N million from # N million and was below analysts ' expectations of # N million to # N million but shares rose N pence to N pence in early trading yesterday in london |
reed is paying an interim dividend of N pence up N N from N pence a year earlier |
sales fell N N to # N million |
earnings were hurt by disposal of operations in its restructuring reed said |
wall street 's big securities firms face the prospect of having their credit ratings lowered |
the reason risks from the firms ' new merchant banking activities are rising as revenue from the industry 's traditional business <unk> |
the downgrading of debt issued by cs first boston inc. parent of first boston corp. by moody 's investors service inc. coupled with a moody 's announcement that shearson lehman hutton holdings inc. is under review for a possible downgrade sent <unk> through the brokerage community this week |
with the <unk> came the <unk> that some of wall street 's biggest players are struggling to maintain the <unk> credit standing required to finance their activities profitably |
securities firms are among the biggest issuers of commercial paper or short-term corporate <unk> which they sell to finance their daily operations |
the biggest firms still retain the highest ratings on their commercial paper |
but moody 's warned that shearson 's commercial paper rating could be lowered soon a move that would reduce shearson 's profit margins on its borrowings and signal trouble ahead for other firms |
shearson is <unk> by american express co |
just as the 1980s bull market transformed the u.s. securities business so too will the more difficult environment of the 1990s says christopher t. <unk> a moody 's vice president |
a sweeping restructuring of the industry is possible |
standard & poor 's corp. says first boston shearson and drexel burnham lambert inc. in particular are likely to have difficulty <unk> up their credit standing in months ahead |
what worries <unk> concerns the most is that wall street firms are taking long-term risks with their own capital via leveraged buy-out and junk bond financings |
that 's a departure from their traditional practice of <unk> almost all financing risks to investors |
<unk> conventional securities financings are structured to be sold quickly wall street 's new <unk> for leveraged buy-outs and junk bonds is resulting in long-term lending commitments that stretch out for months or years |
the recent disarray in the junk bond market suggests that brokers may become longer-term creditors than they anticipated and may face long delays in getting their money back says jeffrey <unk> a vice president at s&p which raised a warning flag for the industry in april when it downgraded cs first boston |
wall street is facing a <unk> situation says mr. <unk> of moody 's |
merchant banking where firms commit their own money is getting riskier and there 's less of it to go around |
in addition he says the buy-out business is under pressure because of the junk bond collapse meaning that returns are likely to decline as the volume of junk-bond financings <unk> |
in a leveraged buy-out a small group of investors acquires a company in a transaction financed largely by borrowing with the expectation that the debt will be paid with funds generated by the acquired company 's operations or sales of its assets |
in a recent report moody 's said it expects intense competition to occur through the rest of the century in the securities industry which combined with overcapacity will create poor prospects for profitability |
it said that the temptation for <unk> to ease this profit pressure by taking greater risks is an additional rating factor |
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