1.   Borrowers are able to swap out of their New Zealand dollar bond obligations and get cheaper funding than by borrowing directly in the currency they want.

2.   A spokesman for GECC in Stamford, Connecticut, said the company has swapped the bond obligation into a fixed-rate dollar obligation.

3.   FrontierVision Holdings LP, Stone Energy Corp., MedPartners Inc. and a collateralized bond obligation managed by TCW Group Inc. were the other issuers.

4.   Fund managers are taking some comfort from the knowledge that several CBOs, or collateralized bond obligations, are waiting to snap up bonds whose spreads widen.

5.   Half the money would be available almost immediately and could be used to cover bond obligations, the officials told investors.

6.   South Africa will decide in the next few days whether to swap its sterling bond obligation, Ramos said.

7.   That has been the fate of the handful of other public borrowers that have defaulted on their bond obligations.

8.   TCW GEM II, the collateralized bond obligation, sold bonds in three parts.

9.   He said a minimum of three countries would be needed to back what are being called collateralized bond obligations.