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Zunks

Italian translation: Bulgarian bad debt bonds

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:Zunks
Italian translation:Bulgarian bad debt bonds
Entered by: Orietta Neri
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14:40 Jun 11, 2002
French to Italian translations [PRO]
Bus/Financial
French term or phrase: Zunks
banking
Diana Kristo
United States
Local time: 03:52
. Bulgarian bad debt bonds
Explanation:
sono chiamati ZUNKs (sembra una sigla tedesca) adesso controllo meglio

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Note added at 2002-06-11 15:07:46 (GMT)
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Zunk bonds are securities issued by the Bulgarian government and given to Bulgarian state-owned banks to cover the non-performing debts of state-owned enterprises. They are denominated in dollars in the sense that they pay coupons linked to an amount in dollars. This coupon is floating at U.S.dollar LIBOR flat, paid semi-annually. However, the dollar amount of the coupon is paid in BGN at the exchange rate set at the prevailing rate two days before the coupon date.
Foreign investors consider Zunks to be one of Bulgaria’s most attractive domestic debt instruments because the paper can be used as a means of payment at face value in local privatization deals. Using central bank figures, it was estimated at the end of August 1999 that the total size of Zunks in circulation is about US$464 million.

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Note added at 2002-06-11 15:11:29 (GMT)
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ancora ho trovato
Long-term Internal Government Bonds in leva
Quindi si potrebbero tradurre con

Titoli di Stato Bulgari di riconversione del debito pubblico
Selected response from:

Orietta Neri
Italy
Local time: 10:52
Grading comment
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +2v.s.
Gilda Manara
4 +2. Bulgarian bad debt bondsOrietta Neri


  

Answers


25 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
. Bulgarian bad debt bonds


Explanation:
sono chiamati ZUNKs (sembra una sigla tedesca) adesso controllo meglio

--------------------------------------------------
Note added at 2002-06-11 15:07:46 (GMT)
--------------------------------------------------

Zunk bonds are securities issued by the Bulgarian government and given to Bulgarian state-owned banks to cover the non-performing debts of state-owned enterprises. They are denominated in dollars in the sense that they pay coupons linked to an amount in dollars. This coupon is floating at U.S.dollar LIBOR flat, paid semi-annually. However, the dollar amount of the coupon is paid in BGN at the exchange rate set at the prevailing rate two days before the coupon date.
Foreign investors consider Zunks to be one of Bulgaria’s most attractive domestic debt instruments because the paper can be used as a means of payment at face value in local privatization deals. Using central bank figures, it was estimated at the end of August 1999 that the total size of Zunks in circulation is about US$464 million.

--------------------------------------------------
Note added at 2002-06-11 15:11:29 (GMT)
--------------------------------------------------

ancora ho trovato
Long-term Internal Government Bonds in leva
Quindi si potrebbero tradurre con

Titoli di Stato Bulgari di riconversione del debito pubblico

Orietta Neri
Italy
Local time: 10:52
Native speaker of: Italian
PRO pts in pair: 12

Peer comments on this answer (and responses from the answerer)
agree  Gilda Manara: scusa, siamo arrivate insieme - non volevo copiarti! :-)
5 mins

agree  Sarah Ponting
1 hr
Login to enter a peer comment (or grade)

28 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
v.s.


Explanation:
anche se l'hai trovato in un testo francese, il nome si riferisce ad un tipo di azioni bulgare, la cui descrizione puoi trovare in parecchi siti impostando una ricerca con Google "Zunks"; v. per esempio:

... However, about 40% of these securities (called ZUNKs, which is the abbreviation of
the Bad Loans Act) paid interest rates in certain times equal only to 1/3 of ...
http://faculty.insead.fr/mihov/files/bgfinal.pdf


Budget
... Debt on dollar-denominated government bad loan bonds known as ZUNKs rose by a net
966.8 billion levs at end-1997 from 493.476 billion levs a year earlier due ...
http://www.bulgariaonline.bg/freeinf/budget/budget4.htm


Guide
... The restructuring of both bradies and zunks was only settled in 1994, and legislation
spelling out the rules was only put in place and applied in late 1994 and ...
http://www.iccs.bas.bg/fia/guide.html


Financial Intermediation in Southeast Europe: Banking On the ... (PDF)
... banking system. Hence, government bonds denominated in forex, referred
to as ZUNKs, were used to recapitalize the largest banks. 4 ...
http://www.wiiw.ac.at/balkan/files/Bonin.pdf


ciao, Gilda

Gilda Manara
Italy
Local time: 10:52
Native speaker of: Native in ItalianItalian
PRO pts in pair: 215

Peer comments on this answer (and responses from the answerer)
agree  Orietta Neri: no problem Gilda - ma perché non guardano prima sui motori di ricerca??
5 mins
  -> mah - forse siamo noi il loro motore di ricerca... :-)))

agree  ogdc
6 hrs
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