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UPDATE 1-AngloGold agrees $1 bln loan to refinance bond - Forbes
JOHANNESBURG, Nov 21 (Reuters) - South Africa's AngloGold Ashanti said on Friday it had agreed a $1 billion loan facility with Standard Chartered Bank to refinance a convertible bond expiring on Feb. 27. The loan is for an initial period of one year ...

Turkey Reduces Interest Rates in Surprise Move Called Risky - Wall Street Journal
Turkey's central bank cut interest rates Wednesday to spur fast-slowing-economic growth, a move that surprised investors because of the country's heavy reliance on foreign investment and a recent plunge in its currency. The central bank cut its core ...

FACTBOX-Steel makers join hunt for Russian state funds - Forbes
Nov 18 (Reuters) - Russian steel makers Severstal , TMK and Evraz Group are in talks to secure loans from state-controlled banks to help refinance debt incurred to fund expansions in North America this year. To see stories, please double-click on and ...

Atlantic Power Announces Closing of Auburndale Acquisition and Third ... - Earthtimes
BOSTON, MASSACHUSETTS -- 11/21/08 -- Atlantic Power Corporation (TSX: ATP.UN) ("Atlantic Power" or the "Company") announced today that it has closed the previously announced acquisition of Auburndale Power Partners, Limited Partnership ("Auburndale ...

Semcan Inc. Announces Asset Acquisition and Bridge Loan - Earthtimes
TORONTO , Nov. 17 /PRNewswire-FirstCall/ - Semcan Inc. (TSX VENTURE: STT) ("Semcan") is pleased to announce that it has acquired certain assets of the ZMI/Portec division of The Conveyer Company, an Iowa corporation which had been in voluntary ...

Fitch Downgrades Metrofinanciera's Perpetual Subordinated Notes to 'C ... - Businesswire.com
MONTERREY, Mexico--( BUSINESS WIRE )--Fitch has downgraded the USD100 million 11.25% perpetual non-cumulative subordinated step-up notes issued by the Mexican mortgage company Metrofinanciera, S.A. de C.V. (Metro) to 'C/RR6' from 'CCC-/RR6 ...

Sign up for the Gamasutra Daily Newsletter! - Gamasutra
In-Depth: The Top 5-Selling Games Of 2008 So Far [11.17.08] As part of Gamasutra's comprehensive new U.S. sales analysis following October NPD results, we've extrapolated the top 5 selling video games of 2008 so far in the region, from Smash Bros ...

American Express: A Creditable Investment - Barron's - Seekingalpha.com
American Express ( AXP ), the credit card firm recently approved to be a bank holding company, has seen its shares plummet this year as the credit crisis rages on and the economy grows weaker. The markets may have overreacted, says Barron's Andrew ...

FOCUS: Turkey's Central Bank Cuts Rates In Bold, Risky Move - FXStreet.com
Turkey's central bank cut interest rates late Wednesday in a bold move given growing risks of capital flight and a currency crunch. The central bank cut its core overnight borrowing rate by half a percentage point to 16.25%, while taking its ...

India May Announce Package for Exporters, Nath Says (Update1) - Bloomberg
Nov. 17 (Bloomberg) -- India may announce an assistance package for exporters as a global recession threatens this year's target for overseas sales, Trade Minister Kamal Nath said. Prime Minister Manmohan Singh has called a meeting of exporting ...

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Today's Mortgage Terms starting with D

  • Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
  • Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
  • Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
  • Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.

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