Nassau New York Proposal to authorize and issue subordinated convertible debentures

• Category: Corporations - Public - Transactions with Officers Directors or Insiders
• State: Multi-State
• County: Nassau
• Control #: US-CC-16-103
• Format: Word; Rich Text

Description

Proposal to authorize and issue subordinated convertible debentures The Nassau New York Proposal to Authorize and Issue Subordinated Convertible Debentures Nassau County, located in the state of New York, has put forth a proposal to authorize and issue subordinated convertible debentures. This financial instrument enables the county to raise capital while offering unique benefits to investors. Subordinated convertible debentures are a type of debt security that includes an option for the holder to convert the debenture into another form of security, typically common stock or equity, at a predetermined price and within a specified period. The debentures are regarded as subordinated because they rank lower in priority compared to other debts in case of bankruptcy or liquidation. By authorizing and issuing subordinated convertible debentures, Nassau County aims to access additional funds for specific projects or initiatives. The offering allows the county to attract investors who seek the potential for capital appreciation through conversion into equity while providing a fixed-income investment option. The proposed debentures may come in various types, each with slightly different features or terms. Some potential types of Nassau New York Proposal to authorize and issue subordinated convertible debentures are: 1. Fixed coupon convertible debentures: These debentures offer a fixed interest rate or coupon payment throughout their term. Holders have the option to convert the debentures into equity as per the predetermined conversion ratio. 2. Floating coupon convertible debentures: These debentures have a variable interest rate that adjusts periodically according to a specified benchmark, such as the LIBOR or Treasury rate. The conversion option remains available to the holder, subject to the predetermined conversion terms. 3. Zero coupon convertible debentures: Unlike traditional coupon-paying debentures, these securities do not provide regular interest payments. Instead, they are issued at a discount to their face value and offer the potential for capital gains upon conversion into equity. The subordinated nature of these debentures implies that they rank below other debts in terms of repayment priority. This characteristic serves to attract investors by offering potentially higher returns in exchange for taking on additional risk. Nassau County's proposal to authorize and issue subordinated convertible debentures serves as a proactive step to fund public investments, infrastructure projects, or government initiatives. It provides investors with the opportunity to participate in the county's growth while offering flexibility through the conversion feature. The proposal signifies the county's commitment to raising capital resources efficiently and fostering economic development in Nassau County, New York.

The Nassau New York Proposal to Authorize and Issue Subordinated Convertible Debentures Nassau County, located in the state of New York, has put forth a proposal to authorize and issue subordinated convertible debentures. This financial instrument enables the county to raise capital while offering unique benefits to investors. Subordinated convertible debentures are a type of debt security that includes an option for the holder to convert the debenture into another form of security, typically common stock or equity, at a predetermined price and within a specified period. The debentures are regarded as subordinated because they rank lower in priority compared to other debts in case of bankruptcy or liquidation. By authorizing and issuing subordinated convertible debentures, Nassau County aims to access additional funds for specific projects or initiatives. The offering allows the county to attract investors who seek the potential for capital appreciation through conversion into equity while providing a fixed-income investment option. The proposed debentures may come in various types, each with slightly different features or terms. Some potential types of Nassau New York Proposal to authorize and issue subordinated convertible debentures are: 1. Fixed coupon convertible debentures: These debentures offer a fixed interest rate or coupon payment throughout their term. Holders have the option to convert the debentures into equity as per the predetermined conversion ratio. 2. Floating coupon convertible debentures: These debentures have a variable interest rate that adjusts periodically according to a specified benchmark, such as the LIBOR or Treasury rate. The conversion option remains available to the holder, subject to the predetermined conversion terms. 3. Zero coupon convertible debentures: Unlike traditional coupon-paying debentures, these securities do not provide regular interest payments. Instead, they are issued at a discount to their face value and offer the potential for capital gains upon conversion into equity. The subordinated nature of these debentures implies that they rank below other debts in terms of repayment priority. This characteristic serves to attract investors by offering potentially higher returns in exchange for taking on additional risk. Nassau County's proposal to authorize and issue subordinated convertible debentures serves as a proactive step to fund public investments, infrastructure projects, or government initiatives. It provides investors with the opportunity to participate in the county's growth while offering flexibility through the conversion feature. The proposal signifies the county's commitment to raising capital resources efficiently and fostering economic development in Nassau County, New York.