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  • 21 deuda subordinada

    f.
    subordinated debt, junior debt.

    Spanish-English dictionary > deuda subordinada

  • 22 более поздний долг

    Investment: junior debt

    Универсальный русско-английский словарь > более поздний долг

  • 23 долг последней очереди

    Finances: junior debt

    Универсальный русско-английский словарь > долг последней очереди

  • 24 подчиненный долг

    Banks. Exchanges. Accounting. (Russian-English) > подчиненный долг

  • 25 субординированный долг

    Banks. Exchanges. Accounting. (Russian-English) > субординированный долг

  • 26 Historical Portugal

       Before Romans described western Iberia or Hispania as "Lusitania," ancient Iberians inhabited the land. Phoenician and Greek trading settlements grew up in the Tagus estuary area and nearby coasts. Beginning around 202 BCE, Romans invaded what is today southern Portugal. With Rome's defeat of Carthage, Romans proceeded to conquer and rule the western region north of the Tagus, which they named Roman "Lusitania." In the fourth century CE, as Rome's rule weakened, the area experienced yet another invasion—Germanic tribes, principally the Suevi, who eventually were Christianized. During the sixth century CE, the Suevi kingdom was superseded by yet another Germanic tribe—the Christian Visigoths.
       A major turning point in Portugal's history came in 711, as Muslim armies from North Africa, consisting of both Arab and Berber elements, invaded the Iberian Peninsula from across the Straits of Gibraltar. They entered what is now Portugal in 714, and proceeded to conquer most of the country except for the far north. For the next half a millennium, Islam and Muslim presence in Portugal left a significant mark upon the politics, government, language, and culture of the country.
       Islam, Reconquest, and Portugal Created, 714-1140
       The long frontier struggle between Muslim invaders and Christian communities in the north of the Iberian peninsula was called the Reconquista (Reconquest). It was during this struggle that the first dynasty of Portuguese kings (Burgundian) emerged and the independent monarchy of Portugal was established. Christian forces moved south from what is now the extreme north of Portugal and gradually defeated Muslim forces, besieging and capturing towns under Muslim sway. In the ninth century, as Christian forces slowly made their way southward, Christian elements were dominant only in the area between Minho province and the Douro River; this region became known as "territorium Portu-calense."
       In the 11th century, the advance of the Reconquest quickened as local Christian armies were reinforced by crusading knights from what is now France and England. Christian forces took Montemor (1034), at the Mondego River; Lamego (1058); Viseu (1058); and Coimbra (1064). In 1095, the king of Castile and Léon granted the country of "Portu-cale," what became northern Portugal, to a Burgundian count who had emigrated from France. This was the foundation of Portugal. In 1139, a descendant of this count, Afonso Henriques, proclaimed himself "King of Portugal." He was Portugal's first monarch, the "Founder," and the first of the Burgundian dynasty, which ruled until 1385.
       The emergence of Portugal in the 12th century as a separate monarchy in Iberia occurred before the Christian Reconquest of the peninsula. In the 1140s, the pope in Rome recognized Afonso Henriques as king of Portugal. In 1147, after a long, bloody siege, Muslim-occupied Lisbon fell to Afonso Henriques's army. Lisbon was the greatest prize of the 500-year war. Assisting this effort were English crusaders on their way to the Holy Land; the first bishop of Lisbon was an Englishman. When the Portuguese captured Faro and Silves in the Algarve province in 1248-50, the Reconquest of the extreme western portion of the Iberian peninsula was complete—significantly, more than two centuries before the Spanish crown completed the Reconquest of the eastern portion by capturing Granada in 1492.
       Consolidation and Independence of Burgundian Portugal, 1140-1385
       Two main themes of Portugal's early existence as a monarchy are the consolidation of control over the realm and the defeat of a Castil-ian threat from the east to its independence. At the end of this period came the birth of a new royal dynasty (Aviz), which prepared to carry the Christian Reconquest beyond continental Portugal across the straits of Gibraltar to North Africa. There was a variety of motives behind these developments. Portugal's independent existence was imperiled by threats from neighboring Iberian kingdoms to the north and east. Politics were dominated not only by efforts against the Muslims in
       Portugal (until 1250) and in nearby southern Spain (until 1492), but also by internecine warfare among the kingdoms of Castile, Léon, Aragon, and Portugal. A final comeback of Muslim forces was defeated at the battle of Salado (1340) by allied Castilian and Portuguese forces. In the emerging Kingdom of Portugal, the monarch gradually gained power over and neutralized the nobility and the Church.
       The historic and commonplace Portuguese saying "From Spain, neither a good wind nor a good marriage" was literally played out in diplomacy and war in the late 14th-century struggles for mastery in the peninsula. Larger, more populous Castile was pitted against smaller Portugal. Castile's Juan I intended to force a union between Castile and Portugal during this era of confusion and conflict. In late 1383, Portugal's King Fernando, the last king of the Burgundian dynasty, suddenly died prematurely at age 38, and the Master of Aviz, Portugal's most powerful nobleman, took up the cause of independence and resistance against Castile's invasion. The Master of Aviz, who became King João I of Portugal, was able to obtain foreign assistance. With the aid of English archers, Joao's armies defeated the Castilians in the crucial battle of Aljubarrota, on 14 August 1385, a victory that assured the independence of the Portuguese monarchy from its Castilian nemesis for several centuries.
       Aviz Dynasty and Portugal's First Overseas Empire, 1385-1580
       The results of the victory at Aljubarrota, much celebrated in Portugal's art and monuments, and the rise of the Aviz dynasty also helped to establish a new merchant class in Lisbon and Oporto, Portugal's second city. This group supported King João I's program of carrying the Reconquest to North Africa, since it was interested in expanding Portugal's foreign commerce and tapping into Muslim trade routes and resources in Africa. With the Reconquest against the Muslims completed in Portugal and the threat from Castile thwarted for the moment, the Aviz dynasty launched an era of overseas conquest, exploration, and trade. These efforts dominated Portugal's 15th and 16th centuries.
       The overseas empire and age of Discoveries began with Portugal's bold conquest in 1415 of the Moroccan city of Ceuta. One royal member of the 1415 expedition was young, 21-year-old Prince Henry, later known in history as "Prince Henry the Navigator." His part in the capture of Ceuta won Henry his knighthood and began Portugal's "Marvelous Century," during which the small kingdom was counted as a European and world power of consequence. Henry was the son of King João I and his English queen, Philippa of Lancaster, but he did not inherit the throne. Instead, he spent most of his life and his fortune, and that of the wealthy military Order of Christ, on various imperial ventures and on voyages of exploration down the African coast and into the Atlantic. While mythology has surrounded Henry's controversial role in the Discoveries, and this role has been exaggerated, there is no doubt that he played a vital part in the initiation of Portugal's first overseas empire and in encouraging exploration. He was naturally curious, had a sense of mission for Portugal, and was a strong leader. He also had wealth to expend; at least a third of the African voyages of the time were under his sponsorship. If Prince Henry himself knew little science, significant scientific advances in navigation were made in his day.
       What were Portugal's motives for this new imperial effort? The well-worn historical cliche of "God, Glory, and Gold" can only partly explain the motivation of a small kingdom with few natural resources and barely 1 million people, which was greatly outnumbered by the other powers it confronted. Among Portuguese objectives were the desire to exploit known North African trade routes and resources (gold, wheat, leather, weaponry, and other goods that were scarce in Iberia); the need to outflank the Muslim world in the Mediterranean by sailing around Africa, attacking Muslims en route; and the wish to ally with Christian kingdoms beyond Africa. This enterprise also involved a strategy of breaking the Venetian spice monopoly by trading directly with the East by means of discovering and exploiting a sea route around Africa to Asia. Besides the commercial motives, Portugal nurtured a strong crusading sense of Christian mission, and various classes in the kingdom saw an opportunity for fame and gain.
       By the time of Prince Henry's death in 1460, Portugal had gained control of the Atlantic archipelagos of the Azores and Madeiras, begun to colonize the Cape Verde Islands, failed to conquer the Canary Islands from Castile, captured various cities on Morocco's coast, and explored as far as Senegal, West Africa, down the African coast. By 1488, Bar-tolomeu Dias had rounded the Cape of Good Hope in South Africa and thereby discovered the way to the Indian Ocean.
       Portugal's largely coastal African empire and later its fragile Asian empire brought unexpected wealth but were purchased at a high price. Costs included wars of conquest and defense against rival powers, manning the far-flung navel and trade fleets and scattered castle-fortresses, and staffing its small but fierce armies, all of which entailed a loss of skills and population to maintain a scattered empire. Always short of capital, the monarchy became indebted to bankers. There were many defeats beginning in the 16th century at the hands of the larger imperial European monarchies (Spain, France, England, and Holland) and many attacks on Portugal and its strung-out empire. Typically, there was also the conflict that arose when a tenuously held world empire that rarely if ever paid its way demanded finance and manpower Portugal itself lacked.
       The first 80 years of the glorious imperial era, the golden age of Portugal's imperial power and world influence, was an African phase. During 1415-88, Portuguese navigators and explorers in small ships, some of them caravelas (caravels), explored the treacherous, disease-ridden coasts of Africa from Morocco to South Africa beyond the Cape of Good Hope. By the 1470s, the Portuguese had reached the Gulf of Guinea and, in the early 1480s, what is now Angola. Bartolomeu Dias's extraordinary voyage of 1487-88 to South Africa's coast and the edge of the Indian Ocean convinced Portugal that the best route to Asia's spices and Christians lay south, around the tip of southern Africa. Between 1488 and 1495, there was a hiatus caused in part by domestic conflict in Portugal, discussion of resources available for further conquests beyond Africa in Asia, and serious questions as to Portugal's capacity to reach beyond Africa. In 1495, King Manuel and his council decided to strike for Asia, whatever the consequences. In 1497-99, Vasco da Gama, under royal orders, made the epic two-year voyage that discovered the sea route to western India (Asia), outflanked Islam and Venice, and began Portugal's Asian empire. Within 50 years, Portugal had discovered and begun the exploitation of its largest colony, Brazil, and set up forts and trading posts from the Middle East (Aden and Ormuz), India (Calicut, Goa, etc.), Malacca, and Indonesia to Macau in China.
       By the 1550s, parts of its largely coastal, maritime trading post empire from Morocco to the Moluccas were under siege from various hostile forces, including Muslims, Christians, and Hindi. Although Moroccan forces expelled the Portuguese from the major coastal cities by 1550, the rival European monarchies of Castile (Spain), England, France, and later Holland began to seize portions of her undermanned, outgunned maritime empire.
       In 1580, Phillip II of Spain, whose mother was a Portuguese princess and who had a strong claim to the Portuguese throne, invaded Portugal, claimed the throne, and assumed control over the realm and, by extension, its African, Asian, and American empires. Phillip II filled the power vacuum that appeared in Portugal following the loss of most of Portugal's army and its young, headstrong King Sebastião in a disastrous war in Morocco. Sebastiao's death in battle (1578) and the lack of a natural heir to succeed him, as well as the weak leadership of the cardinal who briefly assumed control in Lisbon, led to a crisis that Spain's strong monarch exploited. As a result, Portugal lost its independence to Spain for a period of 60 years.
       Portugal under Spanish Rule, 1580-1640
       Despite the disastrous nature of Portugal's experience under Spanish rule, "The Babylonian Captivity" gave birth to modern Portuguese nationalism, its second overseas empire, and its modern alliance system with England. Although Spain allowed Portugal's weakened empire some autonomy, Spanish rule in Portugal became increasingly burdensome and unacceptable. Spain's ambitious imperial efforts in Europe and overseas had an impact on the Portuguese as Spain made greater and greater demands on its smaller neighbor for manpower and money. Portugal's culture underwent a controversial Castilianization, while its empire became hostage to Spain's fortunes. New rival powers England, France, and Holland attacked and took parts of Spain's empire and at the same time attacked Portugal's empire, as well as the mother country.
       Portugal's empire bore the consequences of being attacked by Spain's bitter enemies in what was a form of world war. Portuguese losses were heavy. By 1640, Portugal had lost most of its Moroccan cities as well as Ceylon, the Moluccas, and sections of India. With this, Portugal's Asian empire was gravely weakened. Only Goa, Damão, Diu, Bombay, Timor, and Macau remained and, in Brazil, Dutch forces occupied the northeast.
       On 1 December 1640, long commemorated as a national holiday, Portuguese rebels led by the duke of Braganza overthrew Spanish domination and took advantage of Spanish weakness following a more serious rebellion in Catalonia. Portugal regained independence from Spain, but at a price: dependence on foreign assistance to maintain its independence in the form of the renewal of the alliance with England.
       Restoration and Second Empire, 1640-1822
       Foreign affairs and empire dominated the restoration era and aftermath, and Portugal again briefly enjoyed greater European power and prestige. The Anglo-Portuguese Alliance was renewed and strengthened in treaties of 1642, 1654, and 1661, and Portugal's independence from Spain was underwritten by English pledges and armed assistance. In a Luso-Spanish treaty of 1668, Spain recognized Portugal's independence. Portugal's alliance with England was a marriage of convenience and necessity between two monarchies with important religious, cultural, and social differences. In return for legal, diplomatic, and trade privileges, as well as the use during war and peace of Portugal's great Lisbon harbor and colonial ports for England's navy, England pledged to protect Portugal and its scattered empire from any attack. The previously cited 17th-century alliance treaties were renewed later in the Treaty of Windsor, signed in London in 1899. On at least 10 different occasions after 1640, and during the next two centuries, England was central in helping prevent or repel foreign invasions of its ally, Portugal.
       Portugal's second empire (1640-1822) was largely Brazil-oriented. Portuguese colonization, exploitation of wealth, and emigration focused on Portuguese America, and imperial revenues came chiefly from Brazil. Between 1670 and 1740, Portugal's royalty and nobility grew wealthier on funds derived from Brazilian gold, diamonds, sugar, tobacco, and other crops, an enterprise supported by the Atlantic slave trade and the supply of African slave labor from West Africa and Angola. Visitors today can see where much of that wealth was invested: Portugal's rich legacy of monumental architecture. Meanwhile, the African slave trade took a toll in Angola and West Africa.
       In continental Portugal, absolutist monarchy dominated politics and government, and there was a struggle for position and power between the monarchy and other institutions, such as the Church and nobility. King José I's chief minister, usually known in history as the marquis of Pombal (ruled 1750-77), sharply suppressed the nobility and the
       Church (including the Inquisition, now a weak institution) and expelled the Jesuits. Pombal also made an effort to reduce economic dependence on England, Portugal's oldest ally. But his successes did not last much beyond his disputed time in office.
       Beginning in the late 18th century, the European-wide impact of the French Revolution and the rise of Napoleon placed Portugal in a vulnerable position. With the monarchy ineffectively led by an insane queen (Maria I) and her indecisive regent son (João VI), Portugal again became the focus of foreign ambition and aggression. With England unable to provide decisive assistance in time, France—with Spain's consent—invaded Portugal in 1807. As Napoleon's army under General Junot entered Lisbon meeting no resistance, Portugal's royal family fled on a British fleet to Brazil, where it remained in exile until 1821. In the meantime, Portugal's overseas empire was again under threat. There was a power vacuum as the monarch was absent, foreign armies were present, and new political notions of liberalism and constitutional monarchy were exciting various groups of citizens.
       Again England came to the rescue, this time in the form of the armies of the duke of Wellington. Three successive French invasions of Portugal were defeated and expelled, and Wellington succeeded in carrying the war against Napoleon across the Portuguese frontier into Spain. The presence of the English army, the new French-born liberal ideas, and the political vacuum combined to create revolutionary conditions. The French invasions and the peninsular wars, where Portuguese armed forces played a key role, marked the beginning of a new era in politics.
       Liberalism and Constitutional Monarchy, 1822-1910
       During 1807-22, foreign invasions, war, and civil strife over conflicting political ideas gravely damaged Portugal's commerce, economy, and novice industry. The next terrible blow was the loss of Brazil in 1822, the jewel in the imperial crown. Portugal's very independence seemed to be at risk. In vain, Portugal sought to resist Brazilian independence by force, but in 1825 it formally acknowledged Brazilian independence by treaty.
       Portugal's slow recovery from the destructive French invasions and the "war of independence" was complicated by civil strife over the form of constitutional monarchy that best suited Portugal. After struggles over these issues between 1820 and 1834, Portugal settled somewhat uncertainly into a moderate constitutional monarchy whose constitution (Charter of 1826) lent it strong political powers to exert a moderating influence between the executive and legislative branches of the government. It also featured a new upper middle class based on land ownership and commerce; a Catholic Church that, although still important, lived with reduced privileges and property; a largely African (third) empire to which Lisbon and Oporto devoted increasing spiritual and material resources, starting with the liberal imperial plans of 1836 and 1851, and continuing with the work of institutions like the Lisbon Society of Geography (established 1875); and a mass of rural peasants whose bonds to the land weakened after 1850 and who began to immigrate in increasing numbers to Brazil and North America.
       Chronic military intervention in national politics began in 19th-century Portugal. Such intervention, usually commencing with coups or pronunciamentos (military revolts), was a shortcut to the spoils of political office and could reflect popular discontent as well as the power of personalities. An early example of this was the 1817 golpe (coup) attempt of General Gomes Freire against British military rule in Portugal before the return of King João VI from Brazil. Except for a more stable period from 1851 to 1880, military intervention in politics, or the threat thereof, became a feature of the constitutional monarchy's political life, and it continued into the First Republic and the subsequent Estado Novo.
       Beginning with the Regeneration period (1851-80), Portugal experienced greater political stability and economic progress. Military intervention in politics virtually ceased; industrialization and construction of railroads, roads, and bridges proceeded; two political parties (Regenerators and Historicals) worked out a system of rotation in power; and leading intellectuals sparked a cultural revival in several fields. In 19th-century literature, there was a new golden age led by such figures as Alexandre Herculano (historian), Eça de Queirós (novelist), Almeida Garrett (playwright and essayist), Antero de Quental (poet), and Joaquim Oliveira Martins (historian and social scientist). In its third overseas empire, Portugal attempted to replace the slave trade and slavery with legitimate economic activities; to reform the administration; and to expand Portuguese holdings beyond coastal footholds deep into the African hinterlands in West, West Central, and East Africa. After 1841, to some extent, and especially after 1870, colonial affairs, combined with intense nationalism, pressures for economic profit in Africa, sentiment for national revival, and the drift of European affairs would make or break Lisbon governments.
       Beginning with the political crisis that arose out of the "English Ultimatum" affair of January 1890, the monarchy became discredtted and identified with the poorly functioning government, political parties splintered, and republicanism found more supporters. Portugal participated in the "Scramble for Africa," expanding its African holdings, but failed to annex territory connecting Angola and Mozambique. A growing foreign debt and state bankruptcy as of the early 1890s damaged the constitutional monarchy's reputation, despite the efforts of King Carlos in diplomacy, the renewal of the alliance in the Windsor Treaty of 1899, and the successful if bloody colonial wars in the empire (1880-97). Republicanism proclaimed that Portugal's weak economy and poor society were due to two historic institutions: the monarchy and the Catholic Church. A republic, its stalwarts claimed, would bring greater individual liberty; efficient, if more decentralized government; and a stronger colonial program while stripping the Church of its role in both society and education.
       As the monarchy lost support and republicans became more aggressive, violence increased in politics. King Carlos I and his heir Luís were murdered in Lisbon by anarchist-republicans on 1 February 1908. Following a military and civil insurrection and fighting between monarchist and republican forces, on 5 October 1910, King Manuel II fled Portugal and a republic was proclaimed.
       First Parliamentary Republic, 1910-26
       Portugal's first attempt at republican government was the most unstable, turbulent parliamentary republic in the history of 20th-century Western Europe. During a little under 16 years of the republic, there were 45 governments, a number of legislatures that did not complete normal terms, military coups, and only one president who completed his four-year term in office. Portuguese society was poorly prepared for this political experiment. Among the deadly legacies of the monarchy were a huge public debt; a largely rural, apolitical, and illiterate peasant population; conflict over the causes of the country's misfortunes; and lack of experience with a pluralist, democratic system.
       The republic had some talented leadership but lacked popular, institutional, and economic support. The 1911 republican constitution established only a limited democracy, as only a small portion of the adult male citizenry was eligible to vote. In a country where the majority was Catholic, the republic passed harshly anticlerical laws, and its institutions and supporters persecuted both the Church and its adherents. During its brief disjointed life, the First Republic drafted important reform plans in economic, social, and educational affairs; actively promoted development in the empire; and pursued a liberal, generous foreign policy. Following British requests for Portugal's assistance in World War I, Portugal entered the war on the Allied side in March 1916 and sent armies to Flanders and Portuguese Africa. Portugal's intervention in that conflict, however, was too costly in many respects, and the ultimate failure of the republic in part may be ascribed to Portugal's World War I activities.
       Unfortunately for the republic, its time coincided with new threats to Portugal's African possessions: World War I, social and political demands from various classes that could not be reconciled, excessive military intervention in politics, and, in particular, the worst economic and financial crisis Portugal had experienced since the 16th and 17th centuries. After the original Portuguese Republican Party (PRP, also known as the "Democrats") splintered into three warring groups in 1912, no true multiparty system emerged. The Democrats, except for only one or two elections, held an iron monopoly of electoral power, and political corruption became a major issue. As extreme right-wing dictatorships elsewhere in Europe began to take power in Italy (1922), neighboring Spain (1923), and Greece (1925), what scant popular support remained for the republic collapsed. Backed by a right-wing coalition of landowners from Alentejo, clergy, Coimbra University faculty and students, Catholic organizations, and big business, career military officers led by General Gomes da Costa executed a coup on 28 May 1926, turned out the last republican government, and established a military government.
       The Estado Novo (New State), 1926-74
       During the military phase (1926-32) of the Estado Novo, professional military officers, largely from the army, governed and administered Portugal and held key cabinet posts, but soon discovered that the military possessed no magic formula that could readily solve the problems inherited from the First Republic. Especially during the years 1926-31, the military dictatorship, even with its political repression of republican activities and institutions (military censorship of the press, political police action, and closure of the republic's rowdy parliament), was characterized by similar weaknesses: personalism and factionalism; military coups and political instability, including civil strife and loss of life; state debt and bankruptcy; and a weak economy. "Barracks parliamentarism" was not an acceptable alternative even to the "Nightmare Republic."
       Led by General Óscar Carmona, who had replaced and sent into exile General Gomes da Costa, the military dictatorship turned to a civilian expert in finance and economics to break the budget impasse and bring coherence to the disorganized system. Appointed minister of finance on 27 April 1928, the Coimbra University Law School professor of economics Antônio de Oliveira Salazar (1889-1970) first reformed finance, helped balance the budget, and then turned to other concerns as he garnered extraordinary governing powers. In 1930, he was appointed interim head of another key ministry (Colonies) and within a few years had become, in effect, a civilian dictator who, with the military hierarchy's support, provided the government with coherence, a program, and a set of policies.
       For nearly 40 years after he was appointed the first civilian prime minister in 1932, Salazar's personality dominated the government. Unlike extreme right-wing dictators elsewhere in Europe, Salazar was directly appointed by the army but was never endorsed by a popular political party, street militia, or voter base. The scholarly, reclusive former Coimbra University professor built up what became known after 1932 as the Estado Novo ("New State"), which at the time of its overthrow by another military coup in 1974, was the longest surviving authoritarian regime in Western Europe. The system of Salazar and the largely academic and technocratic ruling group he gathered in his cabinets was based on the central bureaucracy of the state, which was supported by the president of the republic—always a senior career military officer, General Óscar Carmona (1928-51), General Craveiro Lopes (1951-58), and Admiral Américo Tómaz (1958-74)—and the complicity of various institutions. These included a rubber-stamp legislature called the National Assembly (1935-74) and a political police known under various names: PVDE (1932-45), PIDE (1945-69),
       and DGS (1969-74). Other defenders of the Estado Novo security were paramilitary organizations such as the National Republican Guard (GNR); the Portuguese Legion (PL); and the Portuguese Youth [Movement]. In addition to censorship of the media, theater, and books, there was political repression and a deliberate policy of depoliticization. All political parties except for the approved movement of regime loyalists, the União Nacional or (National Union), were banned.
       The most vigorous and more popular period of the New State was 1932-44, when the basic structures were established. Never monolithic or entirely the work of one person (Salazar), the New State was constructed with the assistance of several dozen top associates who were mainly academics from law schools, some technocrats with specialized skills, and a handful of trusted career military officers. The 1933 Constitution declared Portugal to be a "unitary, corporative Republic," and pressures to restore the monarchy were resisted. Although some of the regime's followers were fascists and pseudofascists, many more were conservative Catholics, integralists, nationalists, and monarchists of different varieties, and even some reactionary republicans. If the New State was authoritarian, it was not totalitarian and, unlike fascism in Benito Mussolini's Italy or Adolf Hitler's Germany, it usually employed the minimum of violence necessary to defeat what remained a largely fractious, incoherent opposition.
       With the tumultuous Second Republic and the subsequent civil war in nearby Spain, the regime felt threatened and reinforced its defenses. During what Salazar rightly perceived as a time of foreign policy crisis for Portugal (1936-45), he assumed control of the Ministry of Foreign Affairs. From there, he pursued four basic foreign policy objectives: supporting the Nationalist rebels of General Francisco Franco in the Spanish Civil War (1936-39) and concluding defense treaties with a triumphant Franco; ensuring that General Franco in an exhausted Spain did not enter World War II on the Axis side; maintaining Portuguese neutrality in World War II with a post-1942 tilt toward the Allies, including granting Britain and the United States use of bases in the Azores Islands; and preserving and protecting Portugal's Atlantic Islands and its extensive, if poor, overseas empire in Africa and Asia.
       During the middle years of the New State (1944-58), many key Salazar associates in government either died or resigned, and there was greater social unrest in the form of unprecedented strikes and clandestine Communist activities, intensified opposition, and new threatening international pressures on Portugal's overseas empire. During the earlier phase of the Cold War (1947-60), Portugal became a steadfast, if weak, member of the US-dominated North Atlantic Treaty Organization alliance and, in 1955, with American support, Portugal joined the United Nations (UN). Colonial affairs remained a central concern of the regime. As of 1939, Portugal was the third largest colonial power in the world and possessed territories in tropical Africa (Angola, Mozambique, Guinea-Bissau, and São Tomé and Príncipe Islands) and the remnants of its 16th-century empire in Asia (Goa, Damão, Diu, East Timor, and Macau). Beginning in the early 1950s, following the independence of India in 1947, Portugal resisted Indian pressures to decolonize Portuguese India and used police forces to discourage internal opposition in its Asian and African colonies.
       The later years of the New State (1958-68) witnessed the aging of the increasingly isolated but feared Salazar and new threats both at home and overseas. Although the regime easily overcame the brief oppositionist threat from rival presidential candidate General Humberto Delgado in the spring of 1958, new developments in the African and Asian empires imperiled the authoritarian system. In February 1961, oppositionists hijacked the Portuguese ocean liner Santa Maria and, in following weeks, African insurgents in northern Angola, although they failed to expel the Portuguese, gained worldwide media attention, discredited the New State, and began the 13-year colonial war. After thwarting a dissident military coup against his continued leadership, Salazar and his ruling group mobilized military repression in Angola and attempted to develop the African colonies at a faster pace in order to ensure Portuguese control. Meanwhile, the other European colonial powers (Britain, France, Belgium, and Spain) rapidly granted political independence to their African territories.
       At the time of Salazar's removal from power in September 1968, following a stroke, Portugal's efforts to maintain control over its colonies appeared to be successful. President Americo Tomás appointed Dr. Marcello Caetano as Salazar's successor as prime minister. While maintaining the New State's basic structures, and continuing the regime's essential colonial policy, Caetano attempted wider reforms in colonial administration and some devolution of power from Lisbon, as well as more freedom of expression in Lisbon. Still, a great deal of the budget was devoted to supporting the wars against the insurgencies in Africa. Meanwhile in Asia, Portuguese India had fallen when the Indian army invaded in December 1961. The loss of Goa was a psychological blow to the leadership of the New State, and of the Asian empire only East Timor and Macau remained.
       The Caetano years (1968-74) were but a hiatus between the waning Salazar era and a new regime. There was greater political freedom and rapid economic growth (5-6 percent annually to late 1973), but Caetano's government was unable to reform the old system thoroughly and refused to consider new methods either at home or in the empire. In the end, regime change came from junior officers of the professional military who organized the Armed Forces Movement (MFA) against the Caetano government. It was this group of several hundred officers, mainly in the army and navy, which engineered a largely bloodless coup in Lisbon on 25 April 1974. Their unexpected action brought down the 48-year-old New State and made possible the eventual establishment and consolidation of democratic governance in Portugal, as well as a reorientation of the country away from the Atlantic toward Europe.
       Revolution of Carnations, 1974-76
       Following successful military operations of the Armed Forces Movement against the Caetano government, Portugal experienced what became known as the "Revolution of Carnations." It so happened that during the rainy week of the military golpe, Lisbon flower shops were featuring carnations, and the revolutionaries and their supporters adopted the red carnation as the common symbol of the event, as well as of the new freedom from dictatorship. The MFA, whose leaders at first were mostly little-known majors and captains, proclaimed a three-fold program of change for the new Portugal: democracy; decolonization of the overseas empire, after ending the colonial wars; and developing a backward economy in the spirit of opportunity and equality. During the first 24 months after the coup, there was civil strife, some anarchy, and a power struggle. With the passing of the Estado Novo, public euphoria burst forth as the new provisional military government proclaimed the freedoms of speech, press, and assembly, and abolished censorship, the political police, the Portuguese Legion, Portuguese Youth, and other New State organizations, including the National Union. Scores of political parties were born and joined the senior political party, the Portuguese Community Party (PCP), and the Socialist Party (PS), founded shortly before the coup.
       Portugal's Revolution of Carnations went through several phases. There was an attempt to take control by radical leftists, including the PCP and its allies. This was thwarted by moderate officers in the army, as well as by the efforts of two political parties: the PS and the Social Democrats (PPD, later PSD). The first phase was from April to September 1974. Provisional president General Antonio Spínola, whose 1974 book Portugal and the Future had helped prepare public opinion for the coup, met irresistible leftist pressures. After Spinola's efforts to avoid rapid decolonization of the African empire failed, he resigned in September 1974. During the second phase, from September 1974 to March 1975, radical military officers gained control, but a coup attempt by General Spínola and his supporters in Lisbon in March 1975 failed and Spínola fled to Spain.
       In the third phase of the Revolution, March-November 1975, a strong leftist reaction followed. Farm workers occupied and "nationalized" 1.1 million hectares of farmland in the Alentejo province, and radical military officers in the provisional government ordered the nationalization of Portuguese banks (foreign banks were exempted), utilities, and major industries, or about 60 percent of the economic system. There were power struggles among various political parties — a total of 50 emerged—and in the streets there was civil strife among labor, military, and law enforcement groups. A constituent assembly, elected on 25 April 1975, in Portugal's first free elections since 1926, drafted a democratic constitution. The Council of the Revolution (CR), briefly a revolutionary military watchdog committee, was entrenched as part of the government under the constitution, until a later revision. During the chaotic year of 1975, about 30 persons were killed in political frays while unstable provisional governments came and went. On 25 November 1975, moderate military forces led by Colonel Ramalho Eanes, who later was twice elected president of the republic (1976 and 1981), defeated radical, leftist military groups' revolutionary conspiracies.
       In the meantime, Portugal's scattered overseas empire experienced a precipitous and unprepared decolonization. One by one, the former colonies were granted and accepted independence—Guinea-Bissau (September 1974), Cape Verde Islands (July 1975), and Mozambique (July 1975). Portugal offered to turn over Macau to the People's Republic of China, but the offer was refused then and later negotiations led to the establishment of a formal decolonization or hand-over date of 1999. But in two former colonies, the process of decolonization had tragic results.
       In Angola, decolonization negotiations were greatly complicated by the fact that there were three rival nationalist movements in a struggle for power. The January 1975 Alvor Agreement signed by Portugal and these three parties was not effectively implemented. A bloody civil war broke out in Angola in the spring of 1975 and, when Portuguese armed forces withdrew and declared that Angola was independent on 11 November 1975, the bloodshed only increased. Meanwhile, most of the white Portuguese settlers from Angola and Mozambique fled during the course of 1975. Together with African refugees, more than 600,000 of these retornados ("returned ones") went by ship and air to Portugal and thousands more to Namibia, South Africa, Brazil, Canada, and the United States.
       The second major decolonization disaster was in Portugal's colony of East Timor in the Indonesian archipelago. Portugal's capacity to supervise and control a peaceful transition to independence in this isolated, neglected colony was limited by the strength of giant Indonesia, distance from Lisbon, and Portugal's revolutionary disorder and inability to defend Timor. In early December 1975, before Portugal granted formal independence and as one party, FRETILIN, unilaterally declared East Timor's independence, Indonesia's armed forces invaded, conquered, and annexed East Timor. Indonesian occupation encountered East Timorese resistance, and a heavy loss of life followed. The East Timor question remained a contentious international issue in the UN, as well as in Lisbon and Jakarta, for more than 20 years following Indonesia's invasion and annexation of the former colony of Portugal. Major changes occurred, beginning in 1998, after Indonesia underwent a political revolution and allowed a referendum in East Timor to decide that territory's political future in August 1999. Most East Timorese chose independence, but Indonesian forces resisted that verdict until
       UN intervention in September 1999. Following UN rule for several years, East Timor attained full independence on 20 May 2002.
       Consolidation of Democracy, 1976-2000
       After several free elections and record voter turnouts between 25 April 1975 and June 1976, civil war was averted and Portugal's second democratic republic began to stabilize. The MFA was dissolved, the military were returned to the barracks, and increasingly elected civilians took over the government of the country. The 1976 Constitution was revised several times beginning in 1982 and 1989, in order to reempha-size the principle of free enterprise in the economy while much of the large, nationalized sector was privatized. In June 1976, General Ram-alho Eanes was elected the first constitutional president of the republic (five-year term), and he appointed socialist leader Dr. Mário Soares as prime minister of the first constitutional government.
       From 1976 to 1985, Portugal's new system featured a weak economy and finances, labor unrest, and administrative and political instability. The difficult consolidation of democratic governance was eased in part by the strong currency and gold reserves inherited from the Estado Novo, but Lisbon seemed unable to cope with high unemployment, new debt, the complex impact of the refugees from Africa, world recession, and the agitation of political parties. Four major parties emerged from the maelstrom of 1974-75, except for the Communist Party, all newly founded. They were, from left to right, the Communists (PCP); the Socialists (PS), who managed to dominate governments and the legislature but not win a majority in the Assembly of the Republic; the Social Democrats (PSD); and the Christian Democrats (CDS). During this period, the annual growth rate was low (l-2 percent), and the nationalized sector of the economy stagnated.
       Enhanced economic growth, greater political stability, and more effective central government as of 1985, and especially 1987, were due to several developments. In 1977, Portugal applied for membership in the European Economic Community (EEC), now the European Union (EU) since 1993. In January 1986, with Spain, Portugal was granted membership, and economic and financial progress in the intervening years has been significantly influenced by the comparatively large investment, loans, technology, advice, and other assistance from the EEC. Low unemployment, high annual growth rates (5 percent), and moderate inflation have also been induced by the new political and administrative stability in Lisbon. Led by Prime Minister Cavaco Silva, an economist who was trained abroad, the PSD's strong organization, management, and electoral support since 1985 have assisted in encouraging economic recovery and development. In 1985, the PSD turned the PS out of office and won the general election, although they did not have an absolute majority of assembly seats. In 1986, Mário Soares was elected president of the republic, the first civilian to hold that office since the First Republic. In the elections of 1987 and 1991, however, the PSD was returned to power with clear majorities of over 50 percent of the vote.
       Although the PSD received 50.4 percent of the vote in the 1991 parliamentary elections and held a 42-seat majority in the Assembly of the Republic, the party began to lose public support following media revelations regarding corruption and complaints about Prime Minister Cavaco Silva's perceived arrogant leadership style. President Mário Soares voiced criticism of the PSD's seemingly untouchable majority and described a "tyranny of the majority." Economic growth slowed down. In the parliamentary elections of 1995 and the presidential election of 1996, the PSD's dominance ended for the time being. Prime Minister Antônio Guterres came to office when the PS won the October 1995 elections, and in the subsequent presidential contest, in January 1996, socialist Jorge Sampaio, the former mayor of Lisbon, was elected president of the republic, thus defeating Cavaco Silva's bid. Young and popular, Guterres moved the PS toward the center of the political spectrum. Under Guterres, the PS won the October 1999 parliamentary elections. The PS defeated the PSD but did not manage to win a clear, working majority of seats, and this made the PS dependent upon alliances with smaller parties, including the PCP.
       In the local elections in December 2001, the PSD's criticism of PS's heavy public spending allowed the PSD to take control of the key cities of Lisbon, Oporto, and Coimbra. Guterres resigned, and parliamentary elections were brought forward from 2004 to March 2002. The PSD won a narrow victory with 40 percent of the votes, and Jose Durão Barroso became prime minister. Having failed to win a majority of the seats in parliament forced the PSD to govern in coalition with the right-wing Popular Party (PP) led by Paulo Portas. Durão Barroso set about reducing government spending by cutting the budgets of local authorities, freezing civil service hiring, and reviving the economy by accelerating privatization of state-owned enterprises. These measures provoked a 24-hour strike by public-sector workers. Durão Barroso reacted with vows to press ahead with budget-cutting measures and imposed a wage freeze on all employees earning more than €1,000, which affected more than one-half of Portugal's work force.
       In June 2004, Durão Barroso was invited by Romano Prodi to succeed him as president of the European Commission. Durão Barroso accepted and resigned the prime ministership in July. Pedro Santana Lopes, the leader of the PSD, became prime minister. Already unpopular at the time of Durão Barroso's resignation, the PSD-led government became increasingly unpopular under Santana Lopes. A month-long delay in the start of the school year and confusion over his plan to cut taxes and raise public-sector salaries, eroded confidence even more. By November, Santana Lopes's government was so unpopular that President Jorge Sampaio was obliged to dissolve parliament and hold new elections, two years ahead of schedule.
       Parliamentary elections were held on 20 February 2005. The PS, which had promised the electorate disciplined and transparent governance, educational reform, the alleviation of poverty, and a boost in employment, won 45 percent of the vote and the majority of the seats in parliament. The leader of the PS, José Sôcrates became prime minister on 12 March 2005. In the regularly scheduled presidential elections held on 6 January 2006, the former leader of the PSD and prime minister, Aníbal Cavaco Silva, won a narrow victory and became president on 9 March 2006. With a mass protest, public teachers' strike, and street demonstrations in March 2008, Portugal's media, educational, and social systems experienced more severe pressures. With the spreading global recession beginning in September 2008, Portugal's economic and financial systems became more troubled.
       Owing to its geographic location on the southwestern most edge of continental Europe, Portugal has been historically in but not of Europe. Almost from the beginning of its existence in the 12th century as an independent monarchy, Portugal turned its back on Europe and oriented itself toward the Atlantic Ocean. After carving out a Christian kingdom on the western portion of the Iberian peninsula, Portuguese kings gradually built and maintained a vast seaborne global empire that became central to the way Portugal understood its individuality as a nation-state. While the creation of this empire allows Portugal to claim an unusual number of "firsts" or distinctions in world and Western history, it also retarded Portugal's economic, social, and political development. It can be reasonably argued that the Revolution of 25 April 1974 was the most decisive event in Portugal's long history because it finally ended Portugal's oceanic mission and view of itself as an imperial power. After the 1974 Revolution, Portugal turned away from its global mission and vigorously reoriented itself toward Europe. Contemporary Portugal is now both in and of Europe.
       The turn toward Europe began immediately after 25 April 1974. Portugal granted independence to its African colonies in 1975. It was admitted to the European Council and took the first steps toward accession to the European Economic Community (EEC) in 1976. On 28 March 1977, the Portuguese government officially applied for EEC membership. Because of Portugal's economic and social backwardness, which would require vast sums of EEC money to overcome, negotiations for membership were long and difficult. Finally, a treaty of accession was signed on 12 June 1985. Portugal officially joined the EEC (the European Union [EU] since 1993) on 1 January 1986. Since becoming a full-fledged member of the EU, Portugal has been steadily overcoming the economic and social underdevelopment caused by its imperial past and is becoming more like the rest of Europe.
       Membership in the EU has speeded up the structural transformation of Portugal's economy, which actually began during the Estado Novo. Investments made by the Estado Novo in Portugal's economy began to shift employment out of the agricultural sector, which, in 1950, accounted for 50 percent of Portugal's economically active population. Today, only 10 percent of the economically active population is employed in the agricultural sector (the highest among EU member states); 30 percent in the industrial sector (also the highest among EU member states); and 60 percent in the service sector (the lowest among EU member states). The economically active population numbers about 5,000,000 employed, 56 percent of whom are women. Women workers are the majority of the workforce in the agricultural and service sectors (the highest among the EU member states). The expansion of the service sector has been primarily in health care and education. Portugal has had the lowest unemployment rates among EU member states, with the overall rate never being more than 10 percent of the active population. Since joining the EU, the number of employers increased from 2.6 percent to 5.8 percent of the active population; self-employed from 16 to 19 percent; and employees from 65 to 70 percent. Twenty-six percent of the employers are women. Unemployment tends to hit younger workers in industry and transportation, women employed in domestic service, workers on short-term contracts, and poorly educated workers. Salaried workers earn only 63 percent of the EU average, and hourly workers only one-third to one-half of that earned by their EU counterparts. Despite having had the second highest growth of gross national product (GNP) per inhabitant (after Ireland) among EU member states, the above data suggest that while much has been accomplished in terms of modernizing the Portuguese economy, much remains to be done to bring Portugal's economy up to the level of the "average" EU member state.
       Membership in the EU has also speeded up changes in Portuguese society. Over the last 30 years, coastalization and urbanization have intensified. Fully 50 percent of Portuguese live in the coastal urban conurbations of Lisbon, Oporto, Braga, Aveiro, Coimbra, Viseu, Évora, and Faro. The Portuguese population is one of the oldest among EU member states (17.3 percent are 65 years of age or older) thanks to a considerable increase in life expectancy at birth (77.87 years for the total population, 74.6 years for men, 81.36 years for women) and one of the lowest birthrates (10.59 births/1,000) in Europe. Family size averages 2.8 persons per household, with the strict nuclear family (one or two generations) in which both parents work being typical. Common law marriages, cohabitating couples, and single-parent households are more and more common. The divorce rate has also increased. "Youth Culture" has developed. The young have their own meeting places, leisure-time activities, and nightlife (bars, clubs, and discos).
       All Portuguese citizens, whether they have contributed or not, have a right to an old-age pension, invalidity benefits, widowed persons' pension, as well as payments for disabilities, children, unemployment, and large families. There is a national minimum wage (€385 per month), which is low by EU standards. The rapid aging of Portugal's population has changed the ratio of contributors to pensioners to 1.7, the lowest in the EU. This has created deficits in Portugal's social security fund.
       The adult literacy rate is about 92 percent. Illiteracy is still found among the elderly. Although universal compulsory education up to grade 9 was achieved in 1980, only 21.2 percent of the population aged 25-64 had undergone secondary education, compared to an EU average of 65.7 percent. Portugal's higher education system currently consists of 14 state universities and 14 private universities, 15 state polytechnic institutions, one Catholic university, and one military academy. All in all, Portugal spends a greater percentage of its state budget on education than most EU member states. Despite this high level of expenditure, the troubled Portuguese education system does not perform well. Early leaving and repetition rates are among the highest among EU member states.
       After the Revolution of 25 April 1974, Portugal created a National Health Service, which today consists of 221 hospitals and 512 medical centers employing 33,751 doctors and 41,799 nurses. Like its education system, Portugal's medical system is inefficient. There are long waiting lists for appointments with specialists and for surgical procedures.
       Structural changes in Portugal's economy and society mean that social life in Portugal is not too different from that in other EU member states. A mass consumption society has been created. Televisions, telephones, refrigerators, cars, music equipment, mobile phones, and personal computers are commonplace. Sixty percent of Portuguese households possess at least one automobile, and 65 percent of Portuguese own their own home. Portuguese citizens are more aware of their legal rights than ever before. This has resulted in a trebling of the number of legal proceeding since 1960 and an eight-fold increase in the number of lawyers. In general, Portuguese society has become more permissive and secular; the Catholic Church and the armed forces are much less influential than in the past. Portugal's population is also much more culturally, religiously, and ethnically diverse, a consequence of the coming to Portugal of hundreds of thousands of immigrants, mainly from former African colonies.
       Portuguese are becoming more cosmopolitan and sophisticated through the impact of world media, the Internet, and the World Wide Web. A prime case in point came in the summer and early fall of 1999, with the extraordinary events in East Timor and the massive Portuguese popular responses. An internationally monitored referendum in East Timor, Portugal's former colony in the Indonesian archipelago and under Indonesian occupation from late 1975 to summer 1999, resulted in a vote of 78.5 percent for rejecting integration with Indonesia and for independence. When Indonesian prointegration gangs, aided by the Indonesian military, responded to the referendum with widespread brutality and threatened to reverse the verdict of the referendum, there was a spontaneous popular outpouring of protest in the cities and towns of Portugal. An avalanche of Portuguese e-mail fell on leaders and groups in the UN and in certain countries around the world as Portugal's diplomats, perhaps to compensate for the weak initial response to Indonesian armed aggression in 1975, called for the protection of East Timor as an independent state and for UN intervention to thwart Indonesian action. Using global communications networks, the Portuguese were able to mobilize UN and world public opinion against Indonesian actions and aided the eventual independence of East Timor on 20 May 2002.
       From the Revolution of 25 April 1974 until the 1990s, Portugal had a large number of political parties, one of the largest Communist parties in western Europe, frequent elections, and endemic cabinet instability. Since the 1990s, the number of political parties has been dramatically reduced and cabinet stability increased. Gradually, the Portuguese electorate has concentrated around two larger parties, the right-of-center Social Democrats (PSD) and the left-of-center Socialist (PS). In the 1980s, these two parties together garnered 65 percent of the vote and 70 percent of the seats in parliament. In 2005, these percentages had risen to 74 percent and 85 percent, respectively. In effect, Portugal is currently a two-party dominant system in which the two largest parties — PS and PSD—alternate in and out of power, not unlike the rotation of the two main political parties (the Regenerators and the Historicals) during the last decades (1850s to 1880s) of the liberal constitutional monarchy. As Portugal's democracy has consolidated, turnout rates for the eligible electorate have declined. In the 1970s, turnout was 85 percent. In Portugal's most recent parliamentary election (2005), turnout had fallen to 65 percent of the eligible electorate.
       Portugal has benefited greatly from membership in the EU, and whatever doubts remain about the price paid for membership, no Portuguese government in the near future can afford to sever this connection. The vast majority of Portuguese citizens see membership in the EU as a "good thing" and strongly believe that Portugal has benefited from membership. Only the Communist Party opposed membership because it reduces national sovereignty, serves the interests of capitalists not workers, and suffers from a democratic deficit. Despite the high level of support for the EU, Portuguese voters are increasingly not voting in elections for the European Parliament, however. Turnout for European Parliament elections fell from 40 percent of the eligible electorate in the 1999 elections to 38 percent in the 2004 elections.
       In sum, Portugal's turn toward Europe has done much to overcome its backwardness. However, despite the economic, social, and political progress made since 1986, Portugal has a long way to go before it can claim to be on a par with the level found even in Spain, much less the rest of western Europe. As Portugal struggles to move from underde-velopment, especially in the rural areas away from the coast, it must keep in mind the perils of too rapid modern development, which could damage two of its most precious assets: its scenery and environment. The growth and future prosperity of the economy will depend on the degree to which the government and the private sector will remain stewards of clean air, soil, water, and other finite resources on which the tourism industry depends and on which Portugal's world image as a unique place to visit rests. Currently, Portugal is investing heavily in renewable energy from solar, wind, and wave power in order to account for about 50 percent of its electricity needs by 2010. Portugal opened the world's largest solar power plant and the world's first commercial wave power farm in 2006.
       An American documentary film on Portugal produced in the 1970s described this little country as having "a Past in Search of a Future." In the years after the Revolution of 25 April 1974, it could be said that Portugal is now living in "a Present in Search of a Future." Increasingly, that future lies in Europe as an active and productive member of the EU.

    Historical dictionary of Portugal > Historical Portugal

  • 27 Schuldverschreibungen

    Schuldverschreibungen fpl BÖRSE, FIN debt securities, bonds and notes, (BE) loan stock
    * * *
    fpl <Börse, Finanz> debt securities, bonds and notes, loan stock (BE)
    * * *
    Schuldverschreibungen
    [debt] obligations;
    • in Serien abgestufte Schuldverschreibungen classified bonds;
    • ablösbare Schuldverschreibungen redeemable bonds;
    • zur Rückzahlung (Tilgung) aufgerufene Schuldverschreibungen redeemed (called) bonds;
    • ausgegebene Schuldverschreibungen issued (outstanding) bonds, (Bilanz) bonds payable (US);
    • noch nicht ausgegebene Schuldverschreibungen unissued bonds (debentures);
    • über dem Nennwert ausgegebene Schuldverschreibungen bonds issued above par;
    • zu Sanierungszwecken ausgegebene Schuldverschreibungen reorganization (adjustment) bonds;
    • in Serien ausgegebene Schuldverschreibungen classified (class) bonds;
    • in Stücken ausgegebene Schuldverschreibungen denominational bonds;
    • ausgeloste Schuldverschreibungen drawn bonds, bonds called for redemption;
    • mit Dividendenberechtigung ausgestattete Schuldverschreibungen dividend bonds (US);
    • mit Kapital- und Dividendengarantie ausgestattete Schuldverschreibungen guaranteed bonds;
    • mit attraktiven Steuervorteilen ausgestattete Schuldverschreibungen bonds with attractive tax features;
    • zugunsten einer Bank ausgestellte Schuldverschreibungen bank debentures;
    • in Euro ausgestellte Schuldverschreibungen bonds denominated in euro;
    • ausländische Schuldverschreibungen foreign currency bonds (US);
    • ausstehende Schuldverschreibungen outstanding bonds;
    • bevorrechtigte Schuldverschreibungen priority (preferential, preferred) bonds;
    • börsennotierte Schuldverschreibungen bonds listed (US) (quoted) on the stock exchange;
    • eigene Schuldverschreibungen treasury bonds (US);
    • eingetragene Schuldverschreibungen registered bonds;
    • erstrangige Schuldverschreibungen first debentures;
    • ertragssteuerfreie Schuldverschreibungen tax-exempt bonds;
    • festverzinsliche Schuldverschreibungen coupon (obligatory) bonds, debenture bonds (US);
    • firmeneigene Schuldverschreibungen treasury bonds (US);
    • garantierte Schuldverschreibungen guaranteed stocks (Br.);
    • durch Effektenlombard gedeckte (gesicherte) Schuldverschreibungen collateral trust bonds (US);
    • außer Kurs gesetzte Schuldverschreibungen invalidated bonds;
    • dinglich gesicherte Schuldverschreibungen debentures secured by a charge, debenture stock (Br.);
    • durch Ersthypothek gesicherte Schuldverschreibungen first-mortgage bonds;
    • erstrangig gesicherte Schuldverschreibungen first-lien bonds, consolidated first mortgage bonds (US);
    • durch Gesamthypothek gesicherte Schuldverschreibungen consolidated (general mortgage) bonds (US);
    • hypothekarisch gesicherte Schuldverschreibungen backed (mortgage, Br.) debentures, secured (fixed) debentures, mortgage bonds, [collateral] mortgage bonds, debenture stock (Br.);
    • hypothekarisch nicht gesicherte Schuldverschreibungen simple debentures (bonds);
    • durch nachstellige (im Rang nachstehende) Hypothek gesicherte Schuldverschreibungen junior bonds;
    • durch eine im Range vorgehende Hypothek gesicherte Schuldverschreibungen underlying bonds (US);
    • durch Pfandbestellung gesicherte Schuldverschreibungen backed bonds;
    • gesiegelte Schuldverschreibungen writing obligatory;
    • getilgte Schuldverschreibungenen redeemed bonds;
    • gewinnberechtigte Schuldverschreibungen participating (profit-sharing) bonds, parliamentary debentures;
    • industrielle Schuldverschreibungen internal (industrial) bonds, corporate bonds (US);
    • klassifizierte Schuldverschreibungen classified bonds;
    • kleingestückelte Schuldverschreibungen fractional debentures, savings bonds (US);
    • kommunale Schuldverschreibungen local bonds (Br.), municipal (special assessment) bonds (US), municipal stocks (Br.);
    • konsolidierte Schuldverschreibungen consolidated stocks;
    • konvertierbare Schuldverschreibungen convertible bonds;
    • kündbare Schuldverschreibungen callable (redeemable) bonds;
    • jederzeit kündbare Schuldverschreibungen optional bonds (US);
    • nicht vorzeitig kündbare Schuldverschreibungen non-callable bonds;
    • langfristige Schuldverschreibungen long-term debentures;
    • auf den Inhaber lautende Schuldverschreibungen bearer bonds, debentures (bonds) to bearer;
    • auf den Namen lautende Schuldverschreibungen registered bonds (Br.);
    • lieferbare Schuldverschreibungen good-delivery bonds;
    • mündelsichere Schuldverschreibungen trustee bonds (Br.), legal bonds (US);
    • nennwertlose Schuldverschreibungen no-par debentures;
    • neue Schuldverschreibungen new-issue bonds;
    • öffentlich-rechtliche Schuldverschreibungen public (government) bonds, civil stocks (bonds, US);
    • prolongierte Schuldverschreibungen renewal bonds, extended bonds (US);
    • durch jährliche Auslosung rückzahlbare Schuldverschreibungen bonds repayable by annual drawing;
    • übertragbare Schuldverschreibungen negotiable bonds;
    • ungesicherte Schuldverschreibungen unsecured (naked) debentures (Br.);
    • mittelfristig ungesicherte Schuldverschreibungen notes (US);
    • ungültige Schuldverschreibungen disabled bonds (Br.);
    • unkündbare Schuldverschreibungen irredeemable bonds, perpetual debentures (US);
    • unverzinsliche Schuldverschreibungen passive bonds, noninterest-bearing obligations (US);
    • verbriefte Schuldverschreibungen documented debentures;
    • verbürgte Schuldverschreibungen guaranteed debentures;
    • verlängerte Schuldverschreibungen extended bonds;
    • verzinsliche Schuldverschreibungen interest-bearing obligations (US);
    • gewinnabhängige verzinsliche Schuldverschreibungen income debentures (Br.);
    • nur bei Gewinnerzielung verzinsliche Schuldverschreibungen adjustment bonds;
    • im Range vorangehende Schuldverschreibungen senior-lien bonds;
    • vorläufige Schuldverschreibungen provisional (temporary) bonds;
    • gleichzeitig fällig werdende Schuldverschreibungen term bonds;
    • in gesetzlichen Zahlungsmitteln zahlbare Schuldverschreibungen legal-tender (currency, US) bonds;
    • zinslose Schuldverschreibungen passive bonds, noninterest-bearing obligations (US);
    • zinstragende Schuldverschreibungen active bonds, interest-bearing obligations (US);
    • zur Tilgung zurückgekaufte Schuldverschreibungen bonds purchased for cancellation;
    • zweitrangige Schuldverschreibungen second debentures;
    • Schuldverschreibungen zur Ablösung ungültig ausgegebener Garantien rescission bonds;
    • Schuldverschreibungen des Amortisationsfonds sinking-fund bonds;
    • Schuldverschreibungen über eine breit gestreute Anlagesumme managed bonds;
    • Schuldverschreibungen zur Finanzierung von Bewässerungsprojekten irrigation bonds (US);
    • Schuldverschreibungen zur Finanzierung für Eisenbahnbedarf equipment bonds (US);
    • Schuldverschreibungen für bevorrechtigte Forderungen trust bonds (debentures);
    • Schuldverschreibungen einer Gebietskörperschaft territorial bonds;
    • Schuldverschreibungen mit Gewinnbeteiligung participating (profit, profit-sharing) bonds;
    • Schuldverschreibungen der öffentlichen Hand public securities, civil stocks (bonds, US), public-sector bonds;
    • Schuldverschreibungen eines Immobilienfonds real-estate bonds (US);
    • Schuldverschreibungen mit Kapital- und Dividendengarantie guaranteed bonds (US);
    • Schuldverschreibungen von Kapitalgesellschaften corporate bonds (US);
    • Schuldverschreibungen von Kommunen municipal bonds (US);
    • Schuldverschreibungen zweiten Ranges second debentures;
    • Schuldverschreibungen mit hoher (variabler) Rendite high- (variable-) yield bonds;
    • Schuldverschreibungen des Staates government (state) bonds (US), public stocks, funds (Br.);
    • Schuldverschreibungen in kleiner Stückelung small bonds (US);
    • Schuldverschreibungen ohne Tilgungsverpflichtung perpetual bonds;
    • Schuldverschreibungen öffentlicher Versorgungseinrichtungen public-utility bonds;
    • Schuldverschreibungen mit gleich bleibender Verzinsung continued bonds;
    • Schuldverschreibungen mit Zinsakkumulation zerobonds;
    • Schuldverschreibungen ohne Zinsgarantie debenture income bonds;
    • Schuldverschreibungen mit Zinsschein coupon bonds;
    • Schuldverschreibungen mit aufgeschobener Zinszahlung non-interest-bearing discount bonds;
    • Schuldverschreibungen ablösen to discharge debentures;
    • Schuldverschreibungen ausgeben to float a bond issue, to put out (issue) bonds;
    • Schuldverschreibungen erneut ausgeben to reissue debentures;
    • Schuldverschreibungen unter dem Nennwert ausgeben to issue bonds below par;
    • Schuldverschreibungen ausstellen to [enter into] bond;
    • mit Schuldverschreibungen belasten to bond;
    • Schuldverschreibungen auf den Markt bringen to float bonds;
    • Schuldverschreibungen in den Verkehr bringen to issue debentures;
    • Schuldverschreibungen einlösen to retire (pay off) bonds;
    • Schuldverschreibungen an der Börse handeln (notieren) to trade bonds at the stock exchange;
    • Schuldverschreibungen im Freiverkehr handeln to trade bonds over the counter (US);
    • Schuldverschreibungen kündigen to call in (redeem) bonds;
    • durch Schuldverschreibungen sichern to bond;
    • Schuldverschreibungen in Aktien umwandeln to convert debentures into shares;
    • Schuldverschreibungen im Depot verwahren to keep bonds in safe custoy;
    • Schuldverschreibungen zurückkaufen to repurchase bonds (debentures).

    Business german-english dictionary > Schuldverschreibungen

  • 28 Obligationen

    Obligationen
    bonds, [debenture] stock (Br.), debentures, debenture bonds (US), obligations;
    • mit Obligationen belastet bonded;
    • von Gewinnen in ihrer Verzinsung abhängige Obligationen income bonds (US);
    • aufgerufene Obligationen called bonds;
    • ausgegebene Obligationen (Bilanz) bonds payable;
    • zwecks Ausbau eines Unternehmens ausgegebene Obligationen development bonds (US);
    • von einem Konkursverwalter ausgegebene Obligationen receiver's certificates (US);
    • noch nicht ausgegebene Obligationen unissued debentures;
    • an Stelle von Zinsen ausgegebene Obligationen interest (income) bonds;
    • in Stücken ausgegebene Obligationen denominational bonds;
    • zur Verbesserung öffentlicher Anlagen ausgegebene Obligationen improvement bonds (US);
    • für ungewisse Zeit ausgegebene Obligationen tap bonds (US);
    • ausgeloste Obligationen called (drawn) bonds;
    • mit Dividendenberechtigung ausgestattete Obligationen dividend bonds (US);
    • mit attraktiven Steuervorteilen ausgestattete Obligationen bonds with attractive tax feature;
    • ausländische Obligationen foreign bonds;
    • auslosbare Obligationen redeemable bonds, bonds callable by lot;
    • auswechselbare Obligationen interchangeable bonds;
    • nicht mehr bediente Obligationen defaulted bonds (US);
    • begebene Obligationen outstanding bonds;
    • durch Effektenhinterlegung besicherte Obligationen collateral bonds;
    • hypothekarisch besicherte Obligationen mortgage-backed bonds;
    • bevorrechtigte Obligationen preferred bonds;
    • erstrangige Obligationen first debentures;
    • festverzinsliche Obligationen fixed-interest bonds, active bonds (Br.), debenture bonds (US);
    • neu fundierte Obligationen redemption bonds;
    • erststellig abgesicherte neu fundierte Obligationen refunding first mortgage bonds (US);
    • garantierte Obligationen guaranteed debentures;
    • durch die Muttergesellschaft garantierte Obligationen indorsed bonds;
    • überdurchschnittlich gehandelte Obligationen active bonds (US);
    • durch Effektenlombard gesicherte Obligationen collateral trust bonds (US);
    • erstrangig gesicherte Obligationen first-lien (senior-lien) bonds;
    • durch nachrangige Hypothek gesicherte Obligationen junior-lien bonds;
    • hypothekarisch gesicherte Obligationen secured debentures, debenture stock (Br.);
    • hypothekarisch nicht gesicherte Obligationen simple bonds (debentures);
    • durch Vorranghypothek gesicherte Obligationen prior-lien (underlying, US) bonds;
    • klein gestückelte Obligationen fractional debentures, saving (baby) bonds (US);
    • getilgte Obligationen cancelled bonds;
    • gewinnberechtigte Obligationen profit-sharing bonds, participating bonds (debentures);
    • gleichartige Obligationen similar bonds;
    • beim (bei einem) Treuhänder hinterlegte Obligationen escrow bonds (US);
    • hochverzinsliche Obligationen high-yield bonds;
    • indexgekoppelte Obligationen index-linked bonds;
    • kommunale Obligationen local government bonds (Br.), municipal bonds (US);
    • konvertierbare Obligationen convertible debentures;
    • jederzeit kündbare Obligationen callable (redeemable, optional, US) bonds, redeemable debentures;
    • nach festgelegten Terminen kündbare Obligationen indeterminate bonds (US);
    • kurzfristige Obligationen short[-term] bonds (debentures);
    • langfristige Obligationen long[-term] bonds (debentures);
    • auf Dollar lautende Obligationen bonds denominated in dollars;
    • auf den Inhaber lautende Obligationen bearer (coupon, US) bonds, bonds to bearer, bearer debentures;
    • auf den Namen lautende Obligationen registered debentures (bonds, Br.);
    • minderwertige Obligationen junk bonds;
    • mündelsichere Obligationen legal bonds (US), trustee bonds (Br.);
    • Not leidende Obligationen overdue stocks (Br.),defaulted bonds (US);
    • öffentlich-rechtliche Obligationen public bonds, bonds of state (public) corporations;
    • pfandgesicherte Obligationen secured bonds (debentures);
    • prolongierte Obligationen continued (extended, US, renewal) bonds;
    • zur Tilgung rückgekaufte Obligationen bonds purchased for cancellation;
    • rückkaufbare Obligationen redeemable debentures;
    • in Teilzahlungen rückzahlbare Obligationen instal(l)ment bonds (US);
    • vorzeitig rückzahlbare Obligationen callable bonds (US);
    • steuerfreie Obligationen tax-exempt (-free) bonds, tax-free obligations;
    • tilgbare Obligationen callable (redeemable) bonds;
    • nicht übertragbare Obligationen registered debentures (bonds, Br.);
    • uneingelöste Obligationen unpaid bonds;
    • ungesicherte Obligationen unsecured (naked) debentures;
    • ungültige Obligationen disabled bonds (Br.);
    • unkündbare Obligationen irredeemable bonds, irredeemable (Br.) (perpetual) debentures;
    • in Serien unterteilte Obligationen serial bonds;
    • unverzinsliche Obligationen non-interest-bearing bonds;
    • frei verfügbare Obligationen free bonds;
    • durch Wechsel verstärkte Obligationen endorsed bonds;
    • vorläufige Obligationen temporary bonds;
    • in Währungen verschiedener Länder zahlbare Obligationen multiple-currency bonds (US);
    • in gesetzlichen Zahlungsmitteln zahlbare Obligationen legal-tender bonds;
    • nur bei Gewinnerträgnissen zinspflichtige Obligationen adjustment bonds;
    • zinstragende Obligationen interest-bearing bonds;
    • zwecks Tilgung zurückgekaufte Obligationen bonds purchased for cancellation;
    • zurückgenommene Obligationen redeemed bonds;
    • in Raten zurückzahlbare Obligationen instalment bonds (US);
    • zweitrangige Obligationen second debentures;
    • Obligationen, deren Besitzer einer Sanierung des Unternehmens nicht zustimmen non-assented bonds;
    • Obligationen ausländischer Gesellschaften foreign corporate bonds (US);
    • Obligationen mit zusätzlichem Gewinnbeteiligungsrecht participating bonds (debentures);
    • Obligationen der öffentlichen Hand public stocks;
    • Obligationen eines Immobilienfonds real-estate bonds;
    • Obligationen mit Kapital- und Dividendengarantie guaranteed bonds (US);
    • Obligationen ohne Konversionsrechte straight bonds;
    • Obligationen mit abgetrennten, noch nicht fälligen Kupons ragged bonds (US);
    • Obligationen mit kurzer Laufzeit short-term bonds (debentures);
    • Obligationen mit langer Laufzeit long-term bonds (debentures);
    • Obligationen mit variabler Rendite variable-yield debentures;
    • Obligationen in Stückelungen bis 500 Dollar fractional debentures, small (savings) bonds (US);
    • Obligationen ohne Tilgungsraten irredeemable bonds (debentures);
    • Obligationen öffentlicher Versorgungsbetriebe public-utility bonds;
    • Obligationen mit aufgeschobener (allmählich ansteigender) Verzinsung non-interest-bearing discount (deferred, Br.) bonds;
    • Obligationen mit gleich bleibender Verzinsung continued bonds (US);
    • Obligationen kommunaler Wasserwerke water bonds;
    • Obligationen mit Wechselkursfreigabe floating-rate bonds;
    • Obligationen mit gestaffeltem Zinssatz graduated interest debentures;
    • Obligationen mit Zinsschein coupon bonds;
    • Obligationen abrufen to call bonds;
    • Obligationen ausgeben to issue bonds;
    • Obligationen auslosen to draw bonds;
    • Obligationen in großen Mengen auf den Markt bringen to put obligations on the market in large blocks;
    • Obligationen einlösen to pay off bonds;
    • Obligationen auf den Namen eintragen to register bonds (debentures);
    • Obligationen neu emittieren to reissue debentures;
    • Obligationen kündigen to call in bonds;
    • Obligationen tilgen to redeem bonds (debentures);
    • Obligationen unterbringen to place bonds;
    • Obligationen mit zweijähriger Laufzeit und einer 11%igen Rendite verkaufen to sell two-year bonds on yield of 11%;
    • Obligationenagio bond premium;
    • Obligationenangebot debenture offering;
    • Obligationenanleihe loan on debentures, debenture loan;
    • Obligationenausgabe issue of debentures, bond (debenture) issue;
    • Obligationenbesitz bondholdings;
    • Obligationenbuch bond register (book);
    • Obligationengläubiger bondholder, debenture holder, bond (debenture) creditor;
    • Obligationenhandel bond trading;
    • Obligationeninhaber bondholder, debenture holder;
    • Obligationenkündigung bond retirement;
    • Obligationenmarkt bond market;
    • Obligationenrecht law of contract;
    • Obligationenschuld debenture (bonded) debt;
    • Obligationenschulden (Bilanz) bonded debts (indebtedness), bonds payable;
    • Obligationenschuldner bond debtor, obligor (US);
    • durch nachstehende Hypothek gesicherte Obligationenserie junior issue;
    • Obligationentilgung redemption of bonds (debentures);
    • Obligationenzinsen interest upon bonds, bond interest, debenture interests (US);
    • Obligationenzinsschein bond coupon.
    Obligationen, deren Besitzer einer Sanierung des Unternehmens nicht zustimmen
    non-assented bonds

    Business german-english dictionary > Obligationen

  • 29 empresa

    f.
    1 company.
    pequeña y mediana empresa small and medium-sized business
    libre empresa free enterprise
    empresa conjunta joint venture
    empresa filial subsidiary
    empresa matriz parent company
    empresa privada private company
    la empresa privada the private sector
    empresa pública public sector firm
    la empresa pública the public sector
    2 enterprise, undertaking.
    se embarcó en una peligrosa empresa he embarked on a risky enterprise o undertaking
    * * *
    1 (compañía) firm, company
    2 (dirección) management
    3 (acción) undertaking, venture
    \
    empresa filial subsidiary company
    empresa matriz parent company
    empresa multinacional multinational company
    empresa naviera shipping company
    libre empresa free enterprise
    * * *
    noun f.
    1) company, corporation, firm, business
    2) undertaking, venture
    * * *
    SF
    1) (=tarea) enterprise
    2) (Com, Econ) (=compañía) firm, company

    empresa funeraria — undertaker's, mortician's (EEUU)

    3) (=dirección) management

    la empresa lamenta que... — the management regrets that...

    * * *
    1)
    a) ( compañía) company, firm (BrE)
    b) ( dirección) management
    2) (tarea, labor) venture, undertaking
    * * *
    1)
    a) ( compañía) company, firm (BrE)
    b) ( dirección) management
    2) (tarea, labor) venture, undertaking
    * * *
    empresa1
    1 = business [businesses, -pl.], commercial firm, company, corporation, firm, business enterprise, outfit, business interest, business firm, industrial firm, commercial enterprise, operating company.

    Ex: To a small or mid-sized business, information is critical for effective planning, growth and development.

    Ex: Difficulties over access to these can arise when research project has been financed by a scientific organization or commercial firm who have an interest in maintaining security.
    Ex: Among the companies offering 'Mice' are Microsoft, Vision and Apple, but more are anticipated.
    Ex: The main form of knowledge transfer and the basis for decision making within corporations has not been a paper, a document or a detailed report, but a set of overhead slides and the discussions around them.
    Ex: The European Development Fund finances projects in overseas countries for which European-based firms can supply equipment and know-how.
    Ex: The 'Books at work' project in Kalmar in southern Sweden is the result of collaboration between trade unions, business enterprises and the public library.
    Ex: The author compares the advantages and disadvantages of buying from the larger established companies and smaller outfits.
    Ex: As an example, the University of Hawaii libraries have installed an online catalogue on which they will hang a special assortment of databases that are needed by Hawaii and Pacific business interests.
    Ex: Collection and preservation of records is an expensive pursuit and the task of persuading cost conscious business firms that they ought to preserve their records is an unenviable one.
    Ex: In libraries serving industrial firms, for example, the cost of not finding information may be high; this is why 'hard headed businessmen' add to their overheads by paying for extensive library services.
    Ex: Some commercial enterprises subsidise satellite communications for academic institutions.
    Ex: In the future, these files will be made readily accessible to other Glaxo operating companies through the use of computers.
    * a cuenta de la empresa = at company expense.
    * administración de empresas = business administration.
    * admnistrador de empresa = firm administrator.
    * archivo de empresa = business archives.
    * biblioteca de empresa = commercial library, industrial library, corporate library, company library, business library.
    * bibliotecario de empresa = industrial librarian.
    * comida de empresa = company dinner.
    * como las empresas = business-like.
    * conglomerado de empresas = conglomerate.
    * contratación de personal cualificado de otras empresas = lateral hiring.
    * curso mixto de clases y práctica en la empresa = sandwich course.
    * dejar la empresa = jump + ship.
    * de la propia empresa = company-owned.
    * de toda la empresa = systemwide.
    * director de empresa = company director.
    * directorio de empresas en base de datos = corporate directory database, company directory database.
    * documentación de empresas = business record.
    * empresa afiliada = sister company.
    * empresa comercial = commercial agency, commercial vendor, commercial business, business firm.
    * empresa con solera = established player.
    * empresa consolidada = established player.
    * empresa constructora = property developer.
    * empresa consumada = established player.
    * empresa de búsqueda personalizada de ejecutivos = headhunter.
    * empresa de cobro de deudas = debt collection agency.
    * empresa de contabilidad = accounting firm.
    * empresa dedicada a la venta por correo = mail order company.
    * empresa dedicada al desarrollo de productos = product developer.
    * empresa dedicada a los sondeos de opinión = polling firm, polling agency.
    * empresa dedicada al proceso del cereal = corn processor.
    * empresa de grandes derroches = high roller.
    * empresa de investigación = research firm.
    * empresa de la limpieza = cleaning firm.
    * empresa de liempza = cleaning business.
    * empresa de limpieza = janitorial business.
    * empresa de medios de comunicación = media company.
    * empresa de mudanzas = mover.
    * empresa de nuestro grupo = sister company, sister organisation.
    * empresa de nueva creación = this sort of thing, startup [start-up].
    * empresa de ordenadores = computer company.
    * empresa de reparto de paquetes = package delivery company.
    * empresa de seguridad = security firm.
    * empresa de servicios = service organisation, service agency, service company.
    * empresa de servicios de información = information broker, broker, information broking.
    * empresa de servicio social = social utility.
    * empresa de servicios públicos = public utility, utility company.
    * empresa de solera = established player.
    * empresa de telecomunicaciones = computer bureau.
    * empresa de trabajo = industrial affiliation.
    * empresa de un grupo = operating company.
    * empresa de viajes = travel company.
    * empresa en la que sólo pueden trabajar empleados que pertenezcan a un sindic = close shop.
    * empresa farmacéutica = drug company.
    * empresa filial = subsidiary company.
    * empresa hipotecaria = mortgage company.
    * empresa industrial = industrial firm.
    * empresa organizadora de congresos = conference organiser.
    * empresa privada = private vendor, private company, private business, private firm.
    * empresa pública = civilian employer, public firm.
    * empresas americanas, las = corporate America.
    * empresa sindicada = union shop.
    * empresa televisiva = television company.
    * empresa transportadora = shipper, shipping agent.
    * en toda la empresa = company-wide, systemwide.
    * específico de las empresas = company-specific.
    * fusión de empresas = consolidation.
    * gasto de empresa = business expense.
    * gestión de empresas = business management.
    * grupo de empresas = business group.
    * guardería de la empresa = workplace crêche.
    * información sobre empresas = business intelligence.
    * intranet de empresa = corporate intranet.
    * libro de empresa = organisation manual.
    * mercado de la empresa = corporate market.
    * mundo de la empresa = business world.
    * mundo de la empresa, el = corporate world, the.
    * mundo de las empresas = business environment.
    * página web de empresa = business site, corporate site.
    * para toda la empresa = company-wide, enterprise-wide.
    * partícipe en la empresa = corporate insider.
    * patrocinado por la propia empresa = company-sponsored.
    * pequeña empresa = small business.
    * persona de la propia empresa = insider.
    * programa de prácticas en la empresa = internship program(me), internship.
    * programa mixto de clases y práctica en la empresa = sandwich programme.
    * propiedad de la empresa = company-owned.
    * PYME (Pequeña y Mediana Empresa) = SME (Small and Medium Sized Enterprise).
    * que afecta a toda la empresa = enterprise-wide.
    * sitio web de empresa = business site, corporate site.
    * trabajador cualificado contratado de otra empresa = lateral hire.
    * ya parte de la empresa = on board.

    empresa2
    2 = enterprise, scheme, venture, quest, operation, undertaking.

    Ex: Only those who have attempted to edit the proceedings of a conference can appreciate the magnitude and scope of such an enterprise.

    Ex: There are forty-six centres in twenty-five countries participating in the scheme.
    Ex: However rudimentary or advanced the system, and no matter what the age of the children involved, certain matters should be considered before setting out on the venture.
    Ex: It is a quest without a satisfactory conclusion - a holy grail of librarianship.
    Ex: When he was younger he really turned the library around, from a backwater, two-bit operation to the respected institution it is today.
    Ex: Since the file from 1966-1975 contains some 2,500,000 references, a search of the complete data base is a fairly large-scale undertaking.
    * empresa descabellada = fool's errand.
    * empresa próspera = success story.

    * * *
    A
    1 (compañía) company, firm ( BrE)
    empresa filial subsidiary company
    mediano, pequeño1 (↑ pequeño (1))
    2 (dirección) management
    la empresa no se hace responsable de … the management cannot accept liability for …
    libre1 (↑ libre (1))
    Compuestos:
    start-up
    public utility company, public utility
    sponsors (pl) ( of an artistic event)
    private sector company
    public sector company
    raider
    masculine and feminine (Ur) self-employed person, sole trader ( BrE)
    B (tarea, labor) venture, undertaking
    nos hemos embarcado en una arriesgada empresa we've undertaken a risky venture
    pereció en la empresa ( liter); she perished in the attempt ( liter)
    * * *

     

    empresa sustantivo femenino
    1 ( compañía) company, firm (BrE);

    2 (tarea, labor) venture, undertaking
    empresa sustantivo femenino
    1 Com Ind company, firm
    empresa pública, state-owned company
    2 (proyecto, tarea) undertaking, task: es una empresa muy arriesgada, it's a very risky venture
    ' empresa' also found in these entries:
    Spanish:
    administración
    - ámbito
    - amenaza
    - asegurar
    - bacalao
    - casa
    - CEPYME
    - compañía
    - constructor
    - constructora
    - contabilidad
    - contrata
    - dar
    - decorar
    - deficitaria
    - deficitario
    - definitivamente
    - departamento
    - depurar
    - dirección
    - dirigir
    - diversificarse
    - económica
    - económico
    - ejecutiva
    - ensalzar
    - entablar
    - escala
    - escáner
    - espaldarazo
    - estatal
    - estructuración
    - forjar
    - gestión
    - hipotecar
    - hostelería
    - imagen
    - imposición
    - inspección
    - juez
    - lanzamiento
    - ligarse
    - llevar
    - mecánica
    - nacional
    - negocio
    - negrera
    - negrero
    - patrón
    - patrona
    English:
    administration
    - amount to
    - association
    - audit
    - backbone
    - bankrupt
    - base
    - be
    - being
    - boss
    - branch out
    - builder
    - business
    - by-law
    - carrier
    - climb down
    - cock-up
    - collapse
    - come in
    - company
    - creativity
    - credit bureau
    - dark horse
    - deal with
    - department
    - developer
    - disorganized
    - division
    - do
    - down-market
    - effective
    - engineer
    - enter
    - enterprise
    - equal
    - established
    - exploit
    - firm
    - fixture
    - float
    - flourish
    - go down
    - go under
    - head
    - house
    - in-house
    - insider
    - intimidate
    - launch
    - launching
    * * *
    1. [sociedad] company;
    pequeña y mediana empresa small and medium-sized business;
    prohibido fijar carteles: responsable la empresa anunciadora [en letrero] post o stick no bills: advertisers will be held liable
    empresa común joint venture;
    empresa conjunta joint venture;
    empresa filial subsidiary;
    empresa funeraria undertaker's;
    empresa júnior junior enterprise, = firm set up and run by business studies students;
    empresa libre, libre empresa free enterprise;
    empresa matriz parent company;
    empresa mixta mixed company;
    empresa privada private company;
    empresa pública public sector firm;
    empresa punto com dot.com (company);
    empresa de seguridad security firm;
    empresa de servicio público public utility, US public service corporation;
    empresa de servicios service company;
    empresa de trabajo temporal Br temping o US temp agency;
    empresa de transportes Br haulage o US trucking firm;
    Urug empresa unipersonal sole trader, one person business
    2. [dirección] management;
    las negociaciones con la empresa the negotiations with management
    3. [acción] enterprise, undertaking;
    se embarcó en una peligrosa empresa he embarked on a risky enterprise o undertaking
    * * *
    f
    1 company;
    gran empresa large company;
    pequeña empresa small business;
    mediana empresa medium-sized business
    2 fig
    venture, undertaking
    * * *
    1) compañía, firma: company, corporation, firm
    2) : undertaking, venture
    * * *
    1. (entidad) company [pl. companies]
    2. (negocio) business [pl. businesses]

    Spanish-English dictionary > empresa

  • 30 Senior-Tranche

    Senior-Tranche f BANK, FIN senior tranche (Synonym: vorrangig besicherte Tranche; meistens mit AAA-Rating; a debt issue which, in the event of liquidation, is repaid before junior mezzanine capital = nachrangiges Mezzanine-Kapital or a before a junior tranche = Nachrangtranche = nachrangig besicherte Tranche)

    Business german-english dictionary > Senior-Tranche

  • 31 неприоритетная второстепенная задолженность

    Универсальный русско-английский словарь > неприоритетная второстепенная задолженность

  • 32 субординированный кредит

    1) Banking: subordinate loan ((в случае ликвидации фирмы-заемщика кредитор может претендовать на ее активы лишь после того, как будут погашены обычные займы) subordinate loan)

    Универсальный русско-английский словарь > субординированный кредит

  • 33 Sicherheit

    Sicherheit f 1. COMP security; 2. FIN surety, security; 3. GEN safety, guaranty; 4. WIWI collateral, certainty • als Sicherheit halten VERSICH hold as a security • an Sicherheiten orientiert BANK collateral-based • gegen eine Sicherheit ausleihen FIN lend against security, lend against collateral • mit Vorrechten oder Sicherheiten belastete Gegenstände RECHT, GRUND property charged with rights of preference or secured rights • Sicherheit leisten für BANK stand security for
    * * *
    f 1. < Comp> security; 2. < Finanz> surety, security; 3. < Geschäft> safety, guaranty; 4. <Person, Verwalt> safety, security; 5. <Vw> collateral, certainty ■ als Sicherheit halten < Versich> hold as a security ■ an Sicherheiten orientiert < Bank> collateral-based ■ gegen eine Sicherheit ausleihen < Finanz> lend against security, lend against collateral ■ Sicherheit leisten für < Bank> stand security for
    * * *
    Sicherheit
    (Bürgschaft) bail, surety, guarantee (Br.), guaranty (US), warranty, (Deckung) cover, (Garantie) warranty, (Gefahrlosigkeit) safety,, (Kreditdeckung) security, collateral (US), (mil., pol.) security, (Pfand) pledge, security, (Schadloshaltung) indemnity;
    • durch eine Sicherheit gedeckt covered by a guarantee;
    • in Sicherheit safe, secure, out of harm’s way;
    • zur Sicherheit by way of security;
    • nur zur Sicherheit (auf Wechseln) for deposit only;
    • Sicherheiten (Bank) securities, collateral (US);
    • angemessene Sicherheit fair security;
    • ausreichende Sicherheit ample (sufficient) security;
    • auswechselbare Sicherheit floating (shifting) security;
    • bankmäßige (bankübliche) Sicherheit banking collateral, bankable (collateral, US) securities;
    • berufliche Sicherheit job security;
    • dingliche Sicherheit material (real, US) security, heritable (Scot.) (underlying) security, security on property (US);
    • elektronische Sicherheit electronic security;
    • erstklassige Sicherheiten first-class (gilt-edged, Br., trustee) securities;
    • nicht durch Dokumente gedeckte Sicherheit personal security;
    • geeignete Sicherheit eligible security;
    • gemeinsame Sicherheit joint collateral (US);
    • von dritter Seite gestellte Sicherheit third-party security;
    • gewährte Sicherheiten guarantees furnished;
    • zusätzlich gewährte Sicherheiten (Grundstücksübertragung) collateral assurance;
    • grundbuchliche Sicherheiten freehold securities;
    • gültige Sicherheit valid security;
    • hinreichende Sicherheit sufficient security;
    • hinterlegte Sicherheit security deposited;
    • hochwertige Sicherheit high-grade security;
    • hypothekarische Sicherheit mortgage, real security (US), security on property (US);
    • innere Sicherheit internal security;
    • kaufmännische Sicherheit trading security;
    • nukleare Sicherheit nuclear safety;
    • öffentliche Sicherheit public security;
    • ordnungsgemäße Sicherheit reliable security;
    • persönliche Sicherheit personal security, security of person;
    • nicht realisierbare Sicherheit dead security;
    • scheinbare Sicherheit rope of sand;
    • soziale Sicherheit social security;
    • statistische Sicherheit confidence coefficient;
    • auf einen Treuhänder übertragene Sicherheit debenture trust deed (Br.);
    • vertraglich vereinbarte Sicherheit contractual security;
    • vorhandene Sicherheit security owned;
    • vorrangige Sicherheiten prior-ranking securities;
    • weitere Sicherheit collateral warranty;
    • wertlose Sicherheit dead security;
    • zusätzliche Sicherheit additional (collateral, US) security;
    • zweifache Sicherheit double security;
    • zweitrangige Sicherheit junior security;
    • Sicherheit am Arbeitsplatz safe working conditions, employee security, safety at the workplace;
    • Sicherheit auf zeitlich begrenzten und ortsveränderlichen Baustellen safety on temporary and mobile construction sites;
    • Sicherheit des Flugverkehrs airline security;
    • Sicherheit für eine Forderung security for a debt;
    • Sicherheit durch Hinterlegung handelsüblicher Effekten regular collateral;
    • Sicherheit durch Hinterlegung von Industrieaktien industrial collateral;
    • Sicherheit für einen Kredit security (collateral) for a loan;
    • Sicherheit von Lebensmitteln pflanzlichen Ursprungs safety of food of plant origin;
    • Sicherheit der Produkte product safety;
    • Sicherheit für Prozesskosten security for costs;
    • Sicherheit und Qualität von Lebensmitteln food safety and quality;
    • Sicherheit im Straßenverkehr road safety;
    • Sicherheit anbieten to offer bail;
    • sein Haus als Sicherheit anbieten to offer one’s house as guarantee;
    • Sicherheiten aufteilen to marshal securities;
    • Schuldschein mit zusätzlicher Sicherheit ausstatten to secure a note by the pledge of collateral security;
    • Sicherheit auswechseln to float a security;
    • zur Sicherheit gegebene Effekten auswechseln to commute collateral;
    • Sicherheit bestellen to register (give, charge, afford) a security, to perform a warranty, to collaterate, to give bonds;
    • Sicherheit bieten to offer security;
    • Wertsachen in Sicherheit bringen to secure valuables;
    • als Sicherheit dienen to serve as cover (collateral);
    • Sicherheit für verfallen erklären to forfeit security;
    • als Sicherheit gegebene Schuldverschreibungen für verfallen erklären to escheat bonds;
    • Sicherheiten fordern to ask for a guarantee;
    • Sicherheiten freigeben to release securities;
    • Sicherheit geben to secure;
    • öffentliche Sicherheit gefährden to endanger the maintenance of public order;
    • öffentliche Sicherheit beim Autofahren gefährden to drive to the public danger;
    • gegen Sicherheit Kredit gewähren to lend on security, to loan on collateral;
    • zusätzliche Sicherheit für einen Kredit gewähren to replenish a loan;
    • als Sicherheit hingeben to turn over as security;
    • als Sicherheit hinterlegen to post a bond (US), to lodge (turn over) as security, to leave as a guarantee, to deposit as underlying security (US);
    • Sicherheit leisten to provide security, to become (stand) surety, to put up (post) a bond (US), (für Kredit) to furnish security (collateral, US);
    • doppelte Sicherheit leisten to give collateral security;
    • zusätzliche Sicherheiten leisten to furnish collateral, to margin up;
    • Sicherheit in Anspruch nehmen to call up a guarantee;
    • durch Sicherheiten gedeckt sein to be in possession of pledges;
    • hinreichend für die Sicherheit seiner Arbeitnehmer sorgen to take reasonable care for the safety of one’s servants;
    • Sicherheit[en] stellen (Bürgschaft) to offer (find) bail, to post (put up) a bond (US), to supply collateral, (Kredit) to afford (furnish) security;
    • erstklassige Sicherheiten stellen to sweeten a loan (sl.);
    • geeignete Sicherheiten stellen to provide with acceptable securities;
    • sein Vermögen als Sicherheit stellen to pledge one’s property;
    • zusätzliche Sicherheiten stellen to replenish a loan;
    • Sicherheit bei Gericht stellen to file a bond in court;
    • gegen Sicherheit verkaufen (Effektengeschäft) to sell on margin;
    • Sicherheit[en] verlangen to want a security;
    • Sicherheiten verwerten to realize securities;
    • auf eine Sicherheit verzichten und den Gesamtbetrag als Konkursforderung anmelden (Vorzugsgläubiger) to surrender a security;
    • Sicherheit zurückkaufen (Treuhänder) to redeem a security;
    • Sicherheiten zurückziehen to revoke a guarantee;
    • Sicherheiten zusammenfassen to tack securities.

    Business german-english dictionary > Sicherheit

  • 34 Wertpapiere

    Wertpapiere npl 1. BANK, BÖRSE, FIN securities, investments, (BE) stocks (Beteiligungs- und Gläubigerwerte, equities and debt securities); 2. RECHT investments • Wertpapiere halten FIN carry securities • Wertpapiere kaufen BANK go long • Wertpapiere repartieren BANK scale down securities
    * * *
    npl 1. < Bank> investments; 2. < Börse> investments, securities; 3. <Finanz, Vw> investments ■ Wertpapiere aus dem Markt nehmen < Börse> buy up securities ■ Wertpapiere gesucht < Börse> securities wanted ■ Wertpapiere halten < Börse> carry securities ■ Wertpapiere kaufen < Börse> go long ■ Wertpapiere repartieren <Bank, Börse> scale down securities
    * * *
    Wertpapiere
    securities, [commercial] papers, shares, stocks, bonds, descriptions (Br.), funds (US), (Bilanz) investments;
    • ablösbare Wertpapier redeemable securities;
    • absetzbare Wertpapier marketable securities;
    • vom Markt aufgenommene Wertpapier digested securities (US);
    • vom Markt noch nicht aufgenommene Wertpapier undigested securities (US);
    • aufgerufene Wertpapier securities called for repayment;
    • ausgegebene Wertpapier securities issued;
    • über (unter) dem Nennwert ausgegebene Wertpapier securities issued above (below) par;
    • ausgeloste Wertpapier drawn bonds;
    • mit zusätzlicher Dividendengarantie ausgestattete Wertpapier assumed bonds;
    • auf den Inhaber ausgestellte Wertpapier bearer bonds (securities);
    • ausländische Wertpapier foreign [currency] securities, foreign stocks, foreigners;
    • auslosbare Wertpapier callable (redeemable) securities;
    • von Börsenvorschriften befreite Wertpapier exempted securities;
    • begebbare Wertpapier negotiable instruments;
    • nicht begebbare Wertpapier non-negotiable securities;
    • hypothekarisch besicherte Wertpapier mortgage-backed securities;
    • am Sanierungsverfahren nicht beteiligte Wertpapier non-assented bonds (securities, stock);
    • bevorrechtigte Wertpapier senior securities;
    • börsenfähige (börsengängige) Wertpapier marketable securities (stocks), quoted (stock-exchange, listed, US) securities, realizable stock, quoted investments (Br.);
    • nicht börsengängige Wertpapier unquoted investments (Br.), unlisted securities (US);
    • deckungsstockfähige Wertpapier securities eligible to serve as collateral;
    • devisenbewirtschaftete Wertpapier Exchange Control Act securities (Br.);
    • diverse Wertpapier miscellaneous (sundry) securities;
    • dividendenberechtigte Wertpapier dividend-paying (equity) securities, securities entitled to a dividend;
    • erst an zweiter Stelle dividendenberechtigte Wertpapier junior securities (US);
    • dreiprozentige Wertpapier (Börse) threes, three-per-cents (Br.);
    • an der Börse eingeführte Wertpapier securities quoted (listed, US) on the stock exchange;
    • gut eingeführte Wertpapier seasoned securities;
    • eingetragene Wertpapier registered securities (Br.);
    • erstklassige Wertpapier first-class (gilt-edged, Br.) stocks, blue chips (US);
    • Ertrag bringende Wertpapier income-producing stocks;
    • ertragssteuerfreie Wertpapier tax-exempt securities;
    • mit Kupon erworbene Wertpapiere investments bought cum dividend;
    • für Steuerrücklagen erworbene Wertpapier tax reserve certificates (US);
    • festverzinsliche Wertpapier fixed-interest [bearing] securities (bonds), percents;
    • steuerfreie festverzinsliche Wertpapier tax-free fixed interest securities;
    • an der Börse gehandelte Wertpapier securities dealt in on the stock exchange;
    • im Freiverkehr gehandelte Wertpapier outside (Br.) (unlisted, US) securities, curb stocks (US);
    • international gehandelte Wertpapier internationals, interbourse securities (Br.);
    • lebhaft gehandelte Wertpapier active securities;
    • selten gehandelte Wertpapier inactive securities;
    • telefonisch gehandelte Wertpapier telephone stocks (US);
    • auf Zeit gehandelte Wertpapier securities negotiated for future delivery (US);
    • abhanden gekommene Wertpapiere lost securities;
    • gemeinsame Wertpapier securities jointly owned;
    • außer Kurs gesetzte Wertpapier called bonds;
    • gesperrte Wertpapier restricted securities;
    • gezogene Wertpapier drawn bonds;
    • an der Börse handelbare Wertpapier securities negotiable at the stock exchange;
    • nicht handelbare Wertpapier non-marketable securities;
    • heimische Wertpapier home descriptions (Br.);
    • hinterlegte Wertpapier securities deposited;
    • im Sammeldepot hinterlegte Wertpapier assented bonds (stock, US);
    • als Sicherheit hinterlegte Wertpapier securities lodged as collateral;
    • hochspekulative Wertpapier wildcat securities;
    • hochwertige Wertpapier high-grade securities, blue chip (US), representative stocks (US);
    • inländische Wertpapier home securities (stocks, Br.);
    • internationale Wertpapier internationals, interbourse securities (Br.);
    • kleingestückelte Wertpapier small denominations;
    • konvertierbare Wertpapier convertible securities;
    • kündbare Wertpapier callable bonds, dated stocks;
    • kursfähige Wertpapier stocks quoted (listed, US) on the stock exchange;
    • kursgünstige Wertpapier bargain stocks;
    • auf den Inhaber lautende Wertpapier bearer bonds;
    • auf den Namen lautende Wertpapier registered securities;
    • lieferbare Wertpapier good-delivery securities;
    • lombardfähige Wertpapier securities eligible to serve as collateral;
    • lombardierte Wertpapiere pledged (pawned) securities (Br.) (stocks), securities held as collateral (US), collateral securities, hypothecated stocks (US);
    • marktfähige Wertpapier marketable (negotiable) securities (stocks), negotiable stocks, open-market papers;
    • marktgängige Wertpapier securities dealt in for cash;
    • mündelsichere Wertpapier gilt-edged (Br.) (trustee) securities (investments) (Br.), gilts (Br.), trustee (widow and orphan) stock (US), trust investments (US), (Börsenbericht) gilt-edged list (Br.);
    • nachschusspflichtige Wertpapier assessable securities (US);
    • Not leidende Wertpapier suffering securities;
    • notierte Wertpapier quoted (listed, US) securities;
    • [amtlich] nicht notierte Wertpapier outside securities (US), kerb (curb, US) stocks;
    • an der Börse nicht notierte Wertpapier unquoted (non-quoted) investments (Br.);
    • in Pfund notierte Wertpapier sterling securities;
    • platzierte Wertpapier digested securities (US);
    • leicht realisierbare Wertpapier readily marketable securities;
    • sofort realisierbare Wertpapier liquid securities;
    • gut renommierte Wertpapier seasoned securities;
    • sparkassenfähige Wertpapier savings-bank securities;
    • spekulative Wertpapier speculative securities (investments);
    • steuerbegünstigte Wertpapier tax-privileged securities;
    • steuerfreie Wertpapier tax-exempt bonds (securities) (US), tax exempts (US);
    • stimmberechtigte Wertpapier voting securities;
    • stimmrechtslose Wertpapier non-voting securities;
    • übertragbare Wertpapier transferable securities;
    • durch Indossament übertragbare (umlauffähige) Wertpapier negotiable instruments;
    • umtauschfähige Wertpapier convertible securities;
    • unkündbare Wertpapier irredeemable securities, (langfristig) longs;
    • unverzinsliche Wertpapier non-interest-paying stock;
    • mit Rückerwerbsverpflichtung veräußerte Wertpapier securities held under agreement to repurchase;
    • ohne Deckung verkaufte Wertpapier shorts;
    • nicht verkehrsfähige Wertpapier non-marketable securities;
    • verloste Wertpapier lottery bonds;
    • mit Verlust notierende Wertpapier investment in default, decliners (Br.);
    • vernachlässigte Wertpapier inactive (neglected) stocks (US);
    • [als Sicherheit] verpfändete Wertpapier pledged securities (Br.), pawned stocks (Br.), hypothecated stock (US), securities held as collateral (US);
    • verwahrte Wertpapier securities held in safe custody;
    • verzinsliche Wertpapier interest-bearing securities;
    • zentralbankfähige Wertpapier approved securities;
    • nicht zinstragende Wertpapier non-interest-paying stock;
    • zweitklassige Wertpapier second-class papers;
    • Wertpapier des Anlagevermögens (Bilanz) long-term investment (US);
    • Wertpapier zu Anschaffungskursen (Bilanz) quoted investments (Br.) (marketable securities) at cost;
    • börsengängige Wertpapiere zum Anschaffungskurs (Bilanz) quoted investment at cost;
    • Wertpapier elektrisch betriebener Bahnen traction securities;
    • Wertpapier von äußerst spekulativem Charakter cats and dogs (US);
    • Wertpapier im Depot securities on deposit;
    • Wertpapier mit zeitweilig gesperrter Dividendenauszahlung deferred securities;
    • Wertpapier mit vereinbartem Einlösungstermin redeemable securities;
    • Wertpapier mit festem Ertrag fixed-yield securities;
    • Wertpapier mit sehr hohem Kursanstieg high flyer;
    • Wertpapier von Lagerhausgesellschaften dock stocks (Br.), warehouse stocks (US);
    • Wertpapier mit geringstem Nominalwert baby bonds (US);
    • festverzinsliches Wertpapier, mit festem, bis Laufzeitende gleich bleibendem, Nominalzinssatz und fester Endlaufzeit straight bond (Br.);
    • Wertpapier mit hoher Rendite high-yield securities;
    • Wertpapier mit variabler Rendite variable-yield securities;
    • Wertpapier mit hoher Sicherheit trustee investments (Br.), widow and orphan stock (US);
    • nicht übertragbare Wertpapier zu Steuerrücklagezwecken tax reserve certificates (Br.);
    • Wertpapier des Umlaufvermögens (Bilanz) temporary investment;
    • Wertpapier mit Vorzugsrechten senior securities;
    • Wertpapier mit steuerfreien Zinserträgnissen nontaxable securities (US);
    • Wertpapier deren Zinssatz dem Diskontsatz entspricht zero coupon bonds;
    • Wertpapier abtreten to assign securities;
    • sein Geld in Wertpapiern anlegen to invest one’s money in stock;
    • sein Geld in mündelsicheren Wertpapiern anlegen to invest one’s money in a safe stock;
    • Wertpapier zur Börsenzulassung anmelden to qualify securities for sale to the public;
    • Wertpapier ausgeben to issue (put out, bring out) bonds;
    • Wertpapier über (unter) dem Nennwert ausgeben to issue securities at a premium (discount);
    • Wertpapier zum Nennwert ausgeben to issue securities at par;
    • in Kost gegebene Wertpapier auswechseln to commute securities;
    • Wertpapier beleihen to lend money on stock, to pawn stock (Br.), to hypothecate securities (US);
    • Wertpapier bereinigen to validate securities;
    • Wertpapier besitzen to hold securities;
    • seine Anlagen hauptsächlich in Wertpapiern decken to invest primarily in securities;
    • Wertpapier durchhalten to carry securities in safe custody (Br.);
    • Wertpapier an der Börse einführen to introduce (market, list, US) securities on the stock exchange;
    • Wertpapier ins Depot einliefern (legen) to place securities in safe custody (deposit, US);
    • Wertpapier über pari emittieren to issue securities at a premium (discount);
    • Wertpapier für kraftlos erklären to retire (invalidate) securities;
    • verloren gegangene Wertpapier für kraftlos erklären to cancel securities;
    • Wertpapier ins Depot geben (legen) to place securities for [safe] custody (Br.), to place securities in a deposit (US);
    • sein Geld in vierprozentigen Wertpapiern angelegt haben to have one’s money in four percents;
    • Wertpapier zur Verfügung halten to earmark securities;
    • mit Wertpapiern handeln to handle stocks and bonds;
    • Wertpapier hereinnehmen to borrow (take in) stock;
    • Wertpapier hinterlegen to deposit securities;
    • Wertpapier als Sicherheit hinterlegen to deposit (lodge) stocks as underlying security;
    • Wertpapier lombardieren lassen to have securities hpypothecated;
    • Wertpapier lombardieren to grant a loan against (hypothecate, US) securities, to advance money (borrow) on securities, to pawn stock (Br.);
    • Wertpapier zinslos lombardieren to loan stock flat;
    • Wertpapier aus einem Depot nehmen to withdraw securities from a deposit;
    • Wertpapier in Kommission nehmen to take securities on a commission basis;
    • Wertpapier an der Börse notieren to quote (list, US) securities on the stock exchange;
    • lombardierte Wertpapier realisieren to sell out securities;
    • mit Wertpapiern eingedeckt sein to be long of stock (Br.);
    • Wertpapier übertragen to transfer stocks;
    • Wertpapier im Depot verwahren to hold securities for safekeeping;
    • Wertpapier zu 9% auf Kredit verwahren to carry securities at 9 per cent;
    • Wertpapier zeichnen to make an application for stocks;
    • Wertpapier in Erwartung einer Kurssteigerung zurückhalten to be on the long side of the market (US);
    • Wertpapier zurückkaufen to redeem (repurchase) securities;
    • Wertpapierabsatz placement of securities, security sales;
    • Wertpapierabteilung securities (stock, Br.) department;
    • Wertpapieranalyse security analysis;
    • Wertpapierangebot securities offerings.

    Business german-english dictionary > Wertpapiere

  • 35 Hypothekenforderung

    Hypothekenforderung
    claim on mortgage, mortgage debt (claim), hypothecary claim;
    • Hypothekenforderungen (Bilanz) mortgages receivable (US);
    • gepfändete Hypothekenforderung defaulted (distressed) mortgage;
    • nachstehende Hypothekenforderung junior (US) (puisne, Br.) mortgage claim;
    • Hypothekenforderungabtreten to assign a mortgage.

    Business german-english dictionary > Hypothekenforderung

  • 36 субординований кредит

    subordinated debt; subordinated loan; junior loan; mezzanine financing

    Українсько-англійський словник > субординований кредит

  • 37 vorrangig besichertes Papier

    vorrangig besichertes Papier n BÖRSE, FIN senior security (a debt issue in the form of a secured loan which, in the event of liquidation, is repaid before junior capital like shareholders’ equity; ein Schuldtitel mit Vorrang vor nachrangig besichertem Fremd- und Eigenkapital)

    Business german-english dictionary > vorrangig besichertes Papier

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См. также в других словарях:

  • Junior Debt — is debt that is either unsecured or has a lower priority than of another debt claim on the same asset or property. It is a debt that is lower in repayment priority than other debts in the event of the issuer s default. Junior debt is usually an… …   Investment dictionary

  • junior debt — finance provided by the equity funders, who are also known as the junior lenders. Also known as subordinated debt. Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010 …   Law dictionary

  • junior debt — Obligations of an issuer for which repayment has contractually been given a priority that is lower than the repayment priority of other debts of the same obligor. This arrangement may arise from either a specific subordination agreement or a… …   Financial and business terms

  • Junior Debt — Das nachrangige Darlehen (auch Junior Debt) ist ein Begriff der Unternehmensfinanzierung. Es handelt sich um ein Darlehen, das anderem Fremdkapital gegenüber im Fall der Liquidation oder der Insolvenz eines Unternehmens nachgeordnet ist. Es ist… …   Deutsch Wikipedia

  • Junior Debt — Junior Debenture; englische Bezeichnung für nachrangiges Fremdkapital. Im Rahmen der Mezzanine Finanzierung handelt es sich bei den J.D. um ungesicherte nachrangige Darlehen, die in ihrem Rang unmittelbar vor dem Eigenkapital stehen. Gegensatz: ⇡ …   Lexikon der Economics

  • junior debt — debt that will be repaid after the preferred debts are repaid …   English contemporary dictionary

  • Junior debt (subordinate debt) — Debt whose holders have a claim on the firm s assets only after senior debtholder s claims have been satisfied. Subordinated debt. The New York Times Financial Glossary …   Financial and business terms

  • Debt overhang — is when an organization (for example, a business, government, or family) has existing debt so great that it cannot easily borrow more money, even when that new borrowing is actually a good investment that would more than pay for itself. This… …   Wikipedia

  • debt — that which is owed. If you borrow money, buy something on credit or receive more money on an account than is owed, you have a debt. Glossary of Business Terms Funds owed by a debtor to a creditor. Outstanding debt obligations are assets for… …   Financial and business terms

  • Debt — Money borrowed. The New York Times Financial Glossary * * * debt debt [det] noun 1. [countable] money that one person, organization, country etc owes to another: • The country will not receive further funds after it failed to repay debts of $16… …   Financial and business terms

  • Junior Note — Das nachrangige Darlehen (auch Junior Debt) ist ein Begriff der Unternehmensfinanzierung. Es handelt sich um ein Darlehen, das anderem Fremdkapital gegenüber im Fall der Liquidation oder der Insolvenz eines Unternehmens nachgeordnet ist. Es ist… …   Deutsch Wikipedia

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