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Tanner-unf corp acquired as a long-term investment 190 million of 8 percent bonds dated July one on July 1, 2013. Company management has the positive
Tanner-unf corp acquired as a long-term investment 190 million of 8 percent bonds dated July one on July 1, 2013. Company management has the positive intent and ability to hold the bond until maturity. The market rate interest yield was 10% for bonds of Similar risk and maturity. Tanner-unf paid 160 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions the fair value of the bonds of December 31, 2013 was 170 million.
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