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In leveraged buyouts, mezzanine capital is used in conjunction with other securities to fund the purchase price of the company being acquired.Typically, mezzanine capital will be used to fill a financing gap between less expensive forms of financing (e.g., senior loans, second lien loan, high yield financings) and equity.
A mezzanine (/ ˌ m ɛ z ə ˈ n iː n /; or in Italian, a mezzanino) [1] is an intermediate floor in a building which is partly open to the double-height ceilinged floor below, or which does not extend over the whole floorspace of the building, a loft with non-sloped walls. However, the term is often used loosely for the floor above the ground ...
In structured finance, a tranche is one of a number of related securities offered as part of the same transaction. In the financial sense of the word, each bond is a different slice of the deal's risk.
The Motley Fool's chief investment officer has selected his No. 1 stock for the next year. Find out which stock it is in the brand-new free report: "The Motley Fool's Top Stock for 2013." Just ...
At the more senior levels of debt, investors are able to obtain better yields than those that are available on more traditional securities (e.g., corporate bonds) of a similar rating. In some cases, investors utilize leverage and hope to profit from the excess of the spread offered by the senior tranche and their cost of borrowing.
Widow-and-orphan stock: a stock that reliably provides a regular dividend while also yielding a slow but steady rise in market value over the long term. [13] Witching hour: the last hour of stock trading between 3 pm (when the bond market closes) and 4 pm EST (when the stock market closes), which can be characterized by higher-than-average ...
Initially, a handful of other private equity firms and hedge funds had planned to follow KKR's lead but shelved those plans when KPE's performance continued to falter after its IPO. KPE's stock declined from an IPO price of €25 per share to €18.16 (a 27% decline) at the end of 2007 and a low of €11.45 (a 54.2% decline) per share in Q1 ...
The reorder point (ROP), also reorder level (ROL) or "optimal re-order level", [1] is the level of inventory which triggers an action to replenish that particular inventory. It is a minimum amount of an item which a firm holds in stock, such that, when stock falls to this amount, the item must be reordered.