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Bodensatz

Glossary entry

German term or phrase:

Zins- und Laufzeiten-Floater-Obligation

English translation:

floating rate bond

Added to glossary by Robert Dunn
Mar 28, 2018 14:22
6 yrs ago
2 viewers *
German term

Zins- und Laufzeiten-Floater-Obligation

German to English Bus/Financial Investment / Securities
I am translating an annual financial report, and I came across this term. I know that a "Floater" is a floating rate note, but I am not sure how the "Zins- und Laufzeite" comes into play here.

Full context:

Im Berichtsjahr wurde eine Zins- und Laufzeiten-Floater-Obligation mit einer Laufzeit bis April 2018 erworben und wird unter den kurzfristigen Vermögenswerten in der Kategorie „bis zur Endfälligkeit gehaltene finanzielle Vermögenswerte“ ausgewiesen.
Proposed translations (English)
3 +1 floating rate bond

Discussion

MoSpa Mar 30, 2018:
The spread of that bond to Euribor varies over time:

1. Zinssatz 3-Monats-EURIBOR plus 0,40 % 06.10.2014 06.01.2015 07.01.2015
2. Zinssatz 3-Monats-EURIBOR plus 0,40 % 07.01.2015 07.04.2015 08.04.2015
3. Zinssatz 3-Monats-EURIBOR plus 0,60 % 08.04.2015 07.07.2015 08.07.2015
4. Zinssatz 3-Monats-EURIBOR plus 0,60 % 08.07.2015 06.10.2015 07.10.2015
5. Zinssatz 3-Monats-EURIBOR plus 0,90 % 07.10.2015 06.01.2016 07.01.2016
Ted Wozniak Mar 29, 2018:
Client clarification needed Never heard of a "floating maturity" note/bond, which is a bit of contradiction in terms anyway. I have to wonder if the German is a misnomer and what is meant is a floating note whose rates varies over the term - more in the direction of a "Zins über die Zeit Floater" to make up a word.

Could also just be another case of German overspecification as a floating note/bond by definition has a variable interest rate.

Absent clarification, I'd just call it a floating rate bond and leave a Translator's Note.
philgoddard Mar 28, 2018:
My attempt would be floating-rate, floating-maturity bond, but I don't know if that makes sense.

Proposed translations

+1
1 day 17 hrs
Selected

floating rate bond

The only Zins und Laufzeiten Floater Obligationen seem to all be issued by UniCredit Bank Austria AG. If you look at the prospect of that bond it becomes clear that it has floating rate and a fixed maturity (see link below).
You can find it translated as "Bond Floating Rate", which makes sense given what the prospect says (see second link).
Example sentence:

http://www.bankaustria.at/files/AT000B043443_Bedingungen_Zins_Laufzeiten_FloaterObligation_2014-2017_8.pdf

http://www.alacrastore.com/storecontent/Exchange-Data-International/Unicredit-Bank-Austria-AG-Bond-Floating-Rate-2017-10-20-2155-341309

Peer comment(s):
agree gangels (X)
8 days
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "The client never got back to me but this makes the most sense, thank you and to everyone else who assisted."
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