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From 1997 to October 2000 he was Co-head of Convertible Securities with Donaldson , Lufkin & Jenrette Priorto that, Mr. Cole spent almost 20 years at Merrill Lynch as head of Global Convertible Origination He was perhaps most famous for his development of Liquid Yield Option Notes (LYONs), zero-coupon, convertible, callable and putable bonds.
Appearance: Colorless liquid; Yield: 77%; Boiling point: 231 232°C.
Q l is the stable production liquid yield.
Appearance: Colourless liquid; Yield: 87.3%; Boiling point: 236 238°C.
Appearance: Yellow liquid; Yield: 75.1%; Boiling point: 256 258°C.
The light oil yield and total liquid yield also increased while slurry yield decreased.
Heat transfer rate 200 °C/s High as possible to increase liquid yield.
The dry gas yield decreases, and the total liquid yield increases (Zhao et al. 2006).
The catalyst has influenced the yield and the composition of the liquid yield.
Besides, the total liquid yield and light oil yield increased by 2.27 and 2.26 %, respectively.
The catalytic tests showed liquid yield ca. 99 % of liquid recovery.
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