Fixed rate debt has a pre-determined or locked interest rate or coupon that is payable at specified dates. Due to its fixed nature, the fixed-rate debt is not susceptible to fluctu ...

Floating rate debt contains a variable coupon that is commonly equal to a money market reference rate, or a federal funds rate plus a specified spread. Although the spread remains ...

Credit enhancement by an issuer (in this case, either the investor or the fund).

The percentage of floating rate debt that has been transformed into fixed rate debt through interest rate swaps or other types of derivatives.

A financial instrument whose cash flows should offset changes in the cash flows of a designated hedged item (asset, liability, or investment).

Also known as low floater tax exempt bonds or tax exempt real estate bonds. Originally used as a vehicle by which municipalities could encourage socially responsible investing in t ...

Percentage of the nominal value of debt excluding shareholder loans of which the interest rate risk is hedged through derivatives.

Prozentualer Anteil am Nominalwert der Verbindlichkeiten ohne Aktionärsdarlehen, dessen Zinsrisiko durch Derivate abgesichert ist.

A type of hedging where two parties exchange a floating interest rate for a fixed interest rate or vice-versa

Projected NOI over the following four quarters as a ratio of projected interest payments on bank (not shareholder) loans over the same period. This is a portfolio metric which may ...