Sentence examples for cacs from inspiring English sources
Moreover, clever lawyers for distressed-debt funds have found a weakness in CACs.
In recent years, a handful of countries have written aggregation clauses that apply CACs across all of their paper.
During the past decade, most sovereign debt issued under foreign law has included collective-action clauses (CACs).
(In recent years aggregation clauses, which apply CACs across all bond series, have gained popularity; they prevent hold-outs from buying blocking stakes in the smallest issues).Even so, the ruling now stands as a test of what happens when a hold-out with a foreign-law claim is dead set on waiting for a better deal, and a government is equally determined not to offer one.
Moreover, CACs are usually valid only for one specific issue, rather than for a state's total debt portfolio, so investors can still buy a small subset of securities and block a country's CACs.
In its 2012 restructuring Greece passed a law retroactively adding collective-action clauses (CACs) to the bonds a tool that applies the terms of a swap to all creditors once a specified majority has agreed to it.
THE once-familiar lineup of CAC-40 bosses is getting less so, as one after another is moved, fired or defenestrates himself.
Two-thirds of firms in the CAC-40 index have a long-standing anchor investor usually the state, a family or a mogul.
Boards of directors remain overwhelmingly French, despite the fact that non-French investors own around 40% of the shares in the companies that make up the country's CAC-40 index.
If Dailymotion is a strategic national asset it is hard to see why Alcatel, a stalwart of France's blue-chip CAC-40 index until its recent decline, is not.
The remaining, French-domiciled CAC-40 firms that have up to now had one vote per share are scrambling to sort themselves out before the law's provisions come into force.Of those firms in which the state has no stake, only one has so far ended up with double voting rights for long-term investors.
