Glossary entry (derived from question below)
English term or phrase:
make-whole
Polish translation:
przedterminowy całkowity
Added to glossary by
Monika Kasińska
Aug 31, 2017 07:37
6 yrs ago
13 viewers *
English term
Poland
Words can inspire the world
Native in: Polish
Works in: English to Polish, Polish to English
make-whole
English to Polish
Bus/Financial
Finance (general)
bonds
The € million of bonds maturing on x, and guaranteed by certain Group subsidiaries, were redeemed early (“make-whole”) on x at x% of the par plus interest accrued at that date, for a total amount of € million.
Proposed translations
(Polish)
| 4 | przedterminowy całkowity |
ewa_el
|
References
| What is a 'Make Whole Call (Provision)' |
geopiet
|
Proposed translations
14 hrs
Selected
przedterminowy całkowity
przedterminowy całkowity (wykup)
czyli w tym przypadku: obligacje wykupione w całości przed terminem
czyli w tym przypadku: obligacje wykupione w całości przed terminem
Example sentence:
obligacje serii NAV0216 zostaną w całości wykupione przez Emitenta przed terminem
4 KudoZ points awarded for this answer.
Reference comments
2 hrs
Reference:
What is a 'Make Whole Call (Provision)'
A make whole call provision is a type of call provision on a bond allowing the issuer to pay off remaining debt early. The issuer typically has to make a lump sum payment to the investor derived from a formula based on the net present value (NPV) of future coupon payments that will not be paid incrementally because of the call combined with the principal payment the investor would have received at maturity.
BREAKING DOWN 'Make Whole Call (Provision)'
Make whole call provisions are defined in the indenture of a bond. These provisions began to be included in bond indentures in the 1990s. Issuers typically don't expect to have to use this type of call provision, and make whole calls are rarely exercised. However, if the issuer does decide to utilize its make whole call provision on a bond, then investors will be compensated, or made whole, for the remaining payments and principal from the bond as noted within the bond's indenture.
Read more: Make Whole Call (Provision) http://www.investopedia.com/terms/m/make-wholecall.asp#ixzz4...
--------------------------------------------------
Note added at 2 hrs (2017-08-31 09:47:26 GMT)
--------------------------------------------------
The make-whole call
In most cases, during the non-call period, bonds are nevertheless optionally redeemable at the option of the issuer pursuant to a feature known as the “make-whole call.” The make-whole call allows the issuer to redeem bonds during the non-call period at a redemption price equal to the sum of (a) the principal amount of the bonds redeemed plus (b) accrued and unpaid interest to the redemption date plus (c) a “make-whole” premium based on the present value of (i) the redemption premium that would be required to be paid if the bonds were to be redeemed on the first day after the end of the non-call period and (ii) the interest stream that would have accrued between the actual redemption date and the hypothetical future redemption date at the end of the non-call period if the bonds had been permitted to remain outstanding until the end of the non-call period. In order to calculate the make-whole redemption price on any date, you need to know how to calculate both the amount of accrued interest to the redemption date and the make-whole premium. - http://www.wowlw.com/Article/Index/150
BREAKING DOWN 'Make Whole Call (Provision)'
Make whole call provisions are defined in the indenture of a bond. These provisions began to be included in bond indentures in the 1990s. Issuers typically don't expect to have to use this type of call provision, and make whole calls are rarely exercised. However, if the issuer does decide to utilize its make whole call provision on a bond, then investors will be compensated, or made whole, for the remaining payments and principal from the bond as noted within the bond's indenture.
Read more: Make Whole Call (Provision) http://www.investopedia.com/terms/m/make-wholecall.asp#ixzz4...
--------------------------------------------------
Note added at 2 hrs (2017-08-31 09:47:26 GMT)
--------------------------------------------------
The make-whole call
In most cases, during the non-call period, bonds are nevertheless optionally redeemable at the option of the issuer pursuant to a feature known as the “make-whole call.” The make-whole call allows the issuer to redeem bonds during the non-call period at a redemption price equal to the sum of (a) the principal amount of the bonds redeemed plus (b) accrued and unpaid interest to the redemption date plus (c) a “make-whole” premium based on the present value of (i) the redemption premium that would be required to be paid if the bonds were to be redeemed on the first day after the end of the non-call period and (ii) the interest stream that would have accrued between the actual redemption date and the hypothetical future redemption date at the end of the non-call period if the bonds had been permitted to remain outstanding until the end of the non-call period. In order to calculate the make-whole redemption price on any date, you need to know how to calculate both the amount of accrued interest to the redemption date and the make-whole premium. - http://www.wowlw.com/Article/Index/150
Discussion
http://cbonds.com/news/item/674613
“Remaining Scheduled Payments” means, with respect to a Note, the aggregate of all payments of principal and interest thereon that would be due after the Settlement Date with respect to such Note if no payment of the principal amount of such Note were made prior to its originally scheduled due date, as determined by the Calculation Agent.
“Settlement Date” means, with respect to a Note, the date on which such Note is to be redeemed or is declared to be immediately due and payable.
(ii) Redemption Date (Change of Control Event/Index Adjustment Event): The date which is 5 Business Days after the Response Date.
(iii) Redemption Amount: The principal amount, together with interest accrued on the Notes to the date of such redemption, plus an amount equal to the Fair Value Make-Whole Amount.
(iv) Response Date: Not less than 50 Business Days nor more than 60 Business Days after the later of the date of the relevant event and the date the notice of the event is given to Noteholders.
(v) Fair Value Make-Whole Amount: With respect to a Note, an amount equal to the excess, if any, of the Fair Value of the Remaining Scheduled Payments with respect to such Note over the principal amount of such Note and accrued interest in respect of such Note to the relevant Settlement Date, provided that the Fair Value Make-Whole Amount may in no event be less than zero.
“Pozostałe Płatności Planowe” oznaczają w odniesieniu do Obligacji sumę wszystkich płatności kapitału i odsetek z jej tytułu, jakie byłyby należne po Dacie Rozliczenia w odniesieniu do takiej Obligacji, jeżeli nie została dokonana żadna płatność kapitału z takiej Obligacji przed pierwotnie zaplanowaną datą płatności, ustaloną przez Agenta Kalkulacyjnego.
„Data Rozliczenia” oznacza w odniesieniu do Obligacji datę, w której taka Obligacja ma zostać wykupiona lub zostaje uznana za niezwłocznie wymagalną.
Dzień Roboczy nie mniej niż 30 dni i nie więcej niż 60 dni po dacie właściwego Zawiadomienia o Wykupie z Przyczyn Podatkowych.
(ii) Data Wykupu (Przypadek Zmiany Kontroli/Przypadek Korekty Indeksu):
Data przypadająca na 5 Dni Roboczych po Dacie Odpowiedzi.
(iii) Kwota Wykupu:
Kwota kapitału, wraz z odsetkami naliczonymi od Obligacji do daty takiego wykupu, plus kwota równa Wartości Godziwej Pozostałej Kwoty
(iv) Data Odpowiedzi:
Nie mniej niż 50 Dni Roboczych i nie więcej niż 60 Roboczych po dacie właściwego zdarzenia lub dacie zawiadomienia Obligatariuszy o zdarzeniu, w zależności od tego, która z tych dat wystąpi później.
(v) Wartość Godziwa Pozostałej Kwoty:
W odniesieniu do Obligacji, kwota równa ewentualnej nadwyżce Wartości Godziwej Pozostałych Płatności Planowych w odniesieniu od takiej Obligacji nad kwotą kapitału takiej Obligacji i naliczonych odsetek w odniesieniu do takiej Obligacji do właściwej Daty Rozliczenia, z zastrzeżeniem, że Wartość Godziwa Pozostałej Kwoty nie może w żadnym momencie być niższa niż zero.
http://finansopedia.forsal.pl/encyklopedia/gielda/hasla/9130...
http://www.investinganswers.com/financial-dictionary/bonds/m...
http://www.businessdictionary.com/definition/make-whole-prov...
TVN Finance Corporation III AB (publ) może wykupić wszystkie obligacje po cenie stanowiącej 100% wartości nominalnej powiększonej o premię z tytułu przedterminowego wykupu (make-whole premium);
https://www.corporatebonds.pl/category/newsy/page/67
w całości lub częściowo w dowolnej chwili przed 30 listopada 2015 roku, wg ceny wykupu do 100% głównej kwoty oraz dodatkowej premii („make whole-premium”), powiększonej o narosłe i niezapłacone odsetki, jeżeli takie wystąpią, do daty wykupu.
http://ciechgroup.com/fileadmin/relacje_inwestorskie/WZA/201...
http://www.proz.com/kudoz/english_to_portuguese/finance_gene...
http://www.proz.com/kudoz/english_to_spanish/law_contracts/5...