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émission d’un emprunt de titres perpétuels subordonnés de dernier rang

English translation: subordinated perpetual bonds

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:emprunt de titres perpétuels subordonnés de dernier rang
English translation:subordinated perpetual bonds
Entered by: LAC
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11:31 Jun 16, 2005
French to English translations [PRO]
Bus/Financial - Finance (general)
French term or phrase: émission d’un emprunt de titres perpétuels subordonnés de dernier rang
I've been able to track down bits and pieces of the financial jargon in the sentence, but am having a hard time getting my mind around the whole thing and how it all fits together...

The context is a yearly financial report. The sentence causing me much grief is:
"En 2004, XXX a procédé à l’émission d’un emprunt de titres perpétuels subordonnés de dernier rang éligibles dans la catégorie des fonds propres de base (Tier One) pour un montant de 300 millions d’euros."

Any help at all would be appreciated, but I'm furthest from figuring out "de dernier rang" in this specific context.

Thanks in advance.
LAC
United States
Local time: 00:51
subordinated perpetual bonds - leave it out
Explanation:
The dernier rang means that this debt has to be paid back (ie the bondholder cash in their bonds) in last place, after all other creditors have been paid back first, like their shareholders' equity. Thing is, you could almost leave it out, the Tier 1 explains it.

"In 2004, XXX issued subordinated perpetural bonds in the amount of 300 million euro which were able to be subordinated (in last rank) in the tier 1 equity base.
Selected response from:

xxxdalvaro
Local time: 07:51
Grading comment
Thank you very much!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4subordinated perpetual bonds - leave it outxxxdalvaro
3 +1some info for "subordinated" and "last-ranking"Christopher RH


  

Answers


1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
émission d’un emprunt de titres perpétuels subordonnés de dernier rang
some info for "subordinated" and "last-ranking"


Explanation:
Neat short explanation here:
http://www.specialinvestor.com/terms/1045.html

Subirdinated debenture bonds "rank after secured debt, after debenture bonds, and often after some general creditors in its claim on assets and earnings"

The "dernier rang" is merely clarifying that these bonds really are last-ranking.


Christopher RH
Local time: 07:51
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 67

Peer comments on this answer (and responses from the answerer)
agree  DocteurPC: in fact there can be many ranks of bonds (or shares for that matter) with last rank paying the highest interest but may not be repaid in the event of financial disaster
1 hr
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3 days9 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
émission d’un emprunt de titres perpétuels subordonnés de dernier rang
subordinated perpetual bonds - leave it out


Explanation:
The dernier rang means that this debt has to be paid back (ie the bondholder cash in their bonds) in last place, after all other creditors have been paid back first, like their shareholders' equity. Thing is, you could almost leave it out, the Tier 1 explains it.

"In 2004, XXX issued subordinated perpetural bonds in the amount of 300 million euro which were able to be subordinated (in last rank) in the tier 1 equity base.


xxxdalvaro
Local time: 07:51
Native speaker of: Native in EnglishEnglish
PRO pts in category: 15
Grading comment
Thank you very much!
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