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Q: please define "pro-rata tranche"

Category: glossary , Asked by: Draven I. From United Kingdom

A: A portion of a syndicated loan that is made up of a revolving credit facility and an amortizing term loan. The pro-rata tranche is syndicated by banks, as opposed to institutional tranches, which are primarily comprised of non-bank lending institutions. Both tranches may often be found within the same syndicated loan. Pro-rata tranches are common within the leverage loan market, or in loans to companies with existing high debt loads. Within the pro-rata tranche, the revolving credit line will typically have the same ending or maturity date as the term loan. By forming a syndicate, banks involved in the deal can spread the credit risks among several lenders. Pro-rata tranches have historically been much larger than institutional tranches in terms of dollar size. Visit Dukascopy

    please tell me what the "adjusted funds from operations" is

    Category: glossary by Viviana O. From Cork, Ireland

    "adjusted funds from operations " is A financial performance measure primarily used in the analysis of real-estate income trusts (REITs). The AFFO of a REIT, though subject to varying methods of computation, is generally equal to the trust's funds from operations (FFO) with adjustments made for recurring capital expenditures used to maintain the quality of the REIT's underlying assets. The calculation takes in the adjustment to GAAP straight-lining of rent, leasing costs and other material factors. Regardless of how industry professionals choose to compute AFFO, it is considered a more accurate measure of residual cash flow for shareholders than simple FFO. This provides for a more accurate base number when estimating present values and a better predictor of the REIT's future ability to pay dividends. This is a non-GAAP measure.

    Will you tip me of an online fx platform with good for first timers?

    Category: platform by R. Norman from United Kingdom

    We think the best place for your purpose is "HY Markets" - this place suggests excellent manuals for how to trade, with easy to understand dialog boxes and instructions. You can certainly get a head start some of them.

    please define "vault receipt"

    Category: glossary by Kaylyn J. From Netherlands

    the "vault receipt " is A document frequently used as a delivery instrument to indicate ownership of precious metals stored in a bank, warehouse, or depository. Also known as warrant or warehouse receipt for metals. Vault receipts indicate ownership of precious metal commodities certified for delivery upon futures contract.

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    do you know what the "niche banks" is?
    Banks that cater to and serve the needs of a certain demographic segment of the population. Niche banks typically target a specific market or type of customer, and tailor a bank's advertising, product mix and operations to this target market's preferences. A good example of a niche bank is the Golf Savings Bank, which sponsors golf tournaments and offers up to $10,000 for PGA members who score a hole in one and have a specific account at the bank. Other good examples of niche banks include Reid Temple AME Church Federal Credit Union, which has convenient hours before and after church on Sundays, and BowieBanc, which offered an ATM card with a picture of David Bowie before it shut down. If considering a niche bank, it is important to make sure it is FDIC insured, and to ensure that it is a separately chartered entity and not affiliated with a bank where you might already have deposits. This is because the FDIC generally limits deposit insurance to $100,000 per person per chartered institution. Visit UFX bank

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