At July 31, 2008, the company had outstanding approximately $419 million in aggregate principal amount of convertible debt securities known as Zero Yield Puttable Securities (ZYPS(SM)) due May 15, 2023.
What does ZYPS stand for?
ZYPS stands for Zero Yield Puttable Securities (exchange offer)
This definition appears rarely and is found in the following Acronym Finder categories:
- Business, finance, etc.
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Samples in periodicals archive:
As announced on March 2, 2007, the company has made a cash tender offer for all of its existing Zero Yield Puttable Securities and New Zero Yield Puttable Securities ("ZYPS").
New York City time, on January 21, 2005, of its offer to holders of its outstanding contingent convertible senior notes, known as Zero Yield Puttable Securities ("ZYPS"), to exchange such ZYPS (the "Existing ZYPS") for new ZYPS (the "New ZYPS").