TERMIUM Plus^®

Record 1,  Textual support,  English

Record number: 1, Textual support number: 1 CONT

Vulture investors are individuals and institutions that come to the aid of, or prey upon, troubled companies. Smart vultures don’t simply buy common shares in a company that is trending toward bankruptcy. Instead, they’ll lend money at extraordinarily high interest rates, or demand a chunk of equity in return for the loan, or demand to buy stock at a discount to the current market price. Frequently, such transactions cause a dilution of the value of the shares held by existing shareholders and create a situation in which the new investors have better claims on a company's assets and income than do existing common shareholders.  3, record 1, English, - vulture%20investor

Record number: 1, Textual support number: 2 CONT

Distressed debt investors are sometimes referred to as vultures because they specialize in buying up the bonds of struggling companies in the hopes of seeing the bond value rising in a restructuring or recovery of a business. Investing in debt of distressed businesses involves high risks such as the company going bankrupt and the bonds of the company becoming worthless.  4, record 1, English, - vulture%20investor

Record number: 1, Textual support number: 1 OBS

The colourful name "vulture" arises from the word picture of these opportunistic investors picking over the bones of companies wounded by financial setbacks.  4, record 1, English, - vulture%20investor

Record 1,  Textual support,  French

Record number: 1, Textual support number: 1 DEF

Investisseur qui cherche à acquérir à bas prix des titres principalement obligataires de sociétés en difficulté pour arriver à en contrôler le capital.  4, record 1, French, - investisseur%20vautour

Record number: 1, Textual support number: 1 CONT

L'investisseur vautour apparaît lorsqu'une entreprise ne peut plus ou presque assurer ses paiements (obligations ou emprunts). Ils reprennent à leur compte ces obligations et ces emprunts pour un prix au rabais en espérant qu'après la faillite (via une vente d'actifs) ou bien une injection de capitaux et un éventuel redressement, ils pourront en retirer une plus-value. Les bénéfices peuvent en effet être phénoménaux le risque doit effectivement être récompensé mais bien souvent la perte couvre l'ensemble du chiffre d'affaires.  5, record 1, French, - investisseur%20vautour

Record 1,  Textual support,  Spanish

Record 2,  Textual support,  English

Record number: 2, Textual support number: 1 CONT

The segment's 45. 4% return on common equity reflects low capital requirements due to its largely fee-based business.  1, record 2, English, - fee%2Dbased%20business

Record 2,  Textual support,  French

Record number: 2, Textual support number: 1 CONT

Le rendement des capitaux propres attribuables aux actionnaires ordinaires de 45,4 % de ce secteur traduit ses faibles besoins en capital en raison de ses activités qui, pour la plupart, sont liées aux services tarifés.  1, record 2, French, - activit%C3%A9%20li%C3%A9e%20aux%20services%20tarif%C3%A9s

Record 2,  Textual support,  Spanish

Record 3,  Textual support,  English

Record number: 3, Textual support number: 1 DEF

Net income(or profit) before extraordinary items, less preferred dividends, divided by average common shareholders’ equity. Shows the note of return on the investment for the company's common shareholders, the only providers of capital who do not have a fixed return.  2, record 3, English, - return%20on%20common%20shareholders%27%20equity

Record 3,  Textual support,  French

Record 3,  Textual support,  Spanish

Record 4,  Textual support,  English

Record number: 4, Textual support number: 1 CONT

... a testament to the inherent profitability of the company was the fact that the market was able to achieve 12% operating return on common equity during a period of very weak economic conditions.  1, record 4, English, - operating%20return%20on%20common%20equity

Record 4,  Textual support,  French

Record 4,  Textual support,  Spanish