Closing Index
An index of all documents to be delivered at a closing and included in the closing transcript.
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Closing
The date of delivery of a New Issue of Bonds, at which time the Issuer delivers the Bonds and the requisite legal documents to the Underwriter or other Bond purchaser in exchange for the purchase price.
See Also
Closing Memorandum
A narrative form of, or adjunct to, the closing index describing the participants, their roles in the financing, flow of funds on the date of the closing, closing instructions and the documents for which the transaction participants are responsible.
Closing Transcript
The final record of all executed documents delivered at the closing or shortly thereafter as a bound transcript or in electronic form.
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Hundreds of Terms and Concepts
Interest Rate Swap
A type of derivative, in which the interest rate on the bonds is swapped, or exchanged, by the issuer for an agreed-upon fixed rate or variable rate based upon an index, calculated on a notional principal amount.