Financial terms explained - Mark E. Berch:
BGN
The current ISO 4217 currency code for Bulgarian Lev.
Financing Agreements
In the context of project financing, the documents which provide the project financing and sponsor support for the project as defined in the project contracts.
Mark Berch: London Commodity Exchange (LCE)
Merged with the London International Financial Futures and Options Exchange in 1996.
Life insurance in force
The dollar amount of life insurance that a company has issued, measured as the sum of policy face values and dividends paid.
Mark Berch:Free delivery
Securities industry procedure whereby delivery of securities sold is made to the buying customer's bank without requiring immediate payment; thus a credit agreement of sorts. Antithesis of delivery vs. payment.
All in
Refers to an issuer'sinterest rate after accounting for commissions and various related expenses.
Management/closely held shares
Percentage of shares held by persons closely related to a company, as defined by the Securities and Exchange Commission. Part of these percentages often are included in "institutional holdings"--making the combined total of these percentages over 100. There is overlap as institutions sometimes acquire enough stock to be considered by the SEC to be closely allied to the company. Mark E. Berch
Transferee
The party who has received the benefits of a letter of credit by action of a transfer.
