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.
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Closing Index
An index of all documents (including the basic documents, the proceedings of the Issuer to authorize the Bonds, all security documents, Closing certificates, opinions) to be delivered at a Closing and included in the Closing Transcript.
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
Variable Interest Rate
The interest rate on a bond which varies according to a formula set forth in the bond or the indenture or bond resolution/ordinance or based on the interest rate required by a remarketing agent to remarket the bonds at par.