Revitalized junk bond market open to small issuers

Article Abstract:

Investors are interested in small junk bond deals of $100 million or less because the spread between the interest rate on junk bonds and the interest rates on Treasury bills is at a low point. The junk bond market has shifted from transactions such as leveraged buyouts to the ongoing operations of companies with good management and credit outlook. Small companies can also sell junk bonds in the private-placement market. A saving of as much as 100 to 200 basis points on the interest rate of the debt can be realized, although restrictive covenants are applied to companies. A new feature in private placement is the registration of Securities Exchange Commission (SEC) to provide liquidity for traders. The private placement of junk bonds with registration rights may be the beginning of a future trend for small companies.

Security brokers and dealers, Management, Conferences, meetings and seminars, Marketing, Securities industry, United States. Securities and Exchange Commission, Junk bonds, Drexel Burnham Lambert Inc.

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Simplifying VAT for Small Traders

Article Abstract:

Small businesses have borne an unnecessary burden of VAT regulations in the United Kingdom. The government caused such an imbalance in competition, and its efforts to compensate for this are analyzed with regard to differentials accorded to Belgium, the Netherlands, and West Germany. A methodology for dealing with these inequities to small traders, in accordance with the recommendations of the European Economic Community (EEC), is promulgated. Cost of compliance, concessions, and administration and enforcement problems are highlighted. Tables*of related data are included.

United Kingdom, Accounting and auditing, Commercial treaties, Trade agreements, Value-added tax, European Economic Community

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Softwares Plan Large and Small Projects

Article Abstract:

Two new software packages are now available to assist companies in planning for special projects. Digital Marketing has designed a program, called Milestone, which is for use in smaller firms or for middle-management in larger firms. Data Design Associates' program, Capital Project Management System (CPMS), is for large projects. It can handle such things as new construction and large research and development projects.

Software, Business planning, Project management software, Financial management, product announcement, Outlook, Review, Computer Program, Milestone, Capital Project Management System

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