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Redmond, Ore., School District No. 21, $113.8 million of general obligation convertible deferred interest bonds.
It has a mix of investment types – some equities to give the chance of share price gains and some fixed interest bonds.
That's even allowing for the fact that people need to be compensated for the additional risk involved in holding shares, as opposed to fixed interest bonds.
Most of G.M.'s preferred shares are actually senior notes or "quarterly interest bonds," which means you will be treated as a bondholder, according to Marilyn Cohen, president of Envision Capital Management.
There are plenty of other types of bonds such as junk bonds or high interest bonds, Rubin bonds, and Brady bonds.
This program recently expanded to include bonds backed by commercial mortgage-backed securities, allowing holders of CMBS to refinance their loans into lower interest bonds.
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Does it stay in the club or go out in interest, bond repayments or payments to the owners?
The 10-year cost of those higher-interest bonds is $18.9 billion.
This could be done in cases in which the city has already redeemed one series of high-interest bonds by issuing lower-interest bonds, only to see interest rates fall further.
Mr. Pinsky said the city could issue as much as $250 million in low-interest bonds this year.
Under the recovery act, McHenry County has the authority to issue $27 million in low-interest bonds for private projects.
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