special purpose vehicle

• Special Purpose Vehicle

https://store.theartofservice.com/the-special-purpose-vehicle-toolkit.html

Venture capital - Alternatives

1 Offshore funding is provided via specialist venture capital trusts,

which seek to utilise securitization in structuring hybrid multi-market transactions via an SPV (special

purpose vehicle): a corporate entity that is designed solely for the

purpose of the financing.


Ecotax - Registration taxes

1 In the Netherlands, the new registration taxes, payable when a

car is sold to its first buyer, can earn the owner of a hybrid a discount up to €6000. Spain reduced taxes for

cars that produced less CO2 (some of which will be exempted), while the

more consuming, like Special purpose vehicle|SPV and Four-wheel drive|4WD saw their taxes increased.


Autogas - Turkey

1 According to the Turkish Statistics Institute’s report, the nation had over 16,500,000 vehicles in January 2012. 50.3% are passenger vehicles. 16.2%

light weight trucks, 15.7% motorcycles, 9.2% tractors, 4.6% heavy weight trucks, 2.5% mini

buses for transportation, 1.4% buses and 0.1% special purpose vehicles.


Contemporary era - Great Recession

1 The European Financial Stability Facility (EFSF) was a special purpose vehicle financed by members of the eurozone to combat the European

sovereign debt crisis


Private finance initiative - Contracts

1 A public sector authority signs a contract with a private sector

consortium, technically known as a Special purpose entity|Special

Purpose Vehicle (SPV)


Ecolabelling - Canada

1 EnerGuide label for vehicles found on all new passenger cars, light-duty vans, pickup trucks and special

purpose vehicles not exceeding a gross vehicle weight of 3855kg

(8500lb). The label shows the city and highway fuel consumption

ratings and an estimated annual fuel cost for that particular vehicle.


Public private partnership

1 Typically, a public sector consortium forms a special company called a special purpose vehicle (SPV) to

develop, build, maintain and operate the asset for the contracted

period.Zheng, J


Motor vehicle type approval

1 The European Commission shall adopt amendments to this Directive

which are necessary to wikt:lay down|lay down technical

requirements for small series vehicles, vehicles approved under the individual approval procedure

and 'special purpose vehicles'.


Tobashi scheme - Structure

1 The scheme often makes use of off-balance sheet|off-balance sheet

financing or special purpose entity|Special purpose vehicles with non-

coterminous accounting periods


Driving in Singapore - Seating etiquette in cars

1 In Singapore, only right hand drive cars are allowed. There are

exceptions for special purpose vehicles, diplomatic vehicles and

foreign registered vehicles driven by visitors, with the label placed at the

back windscreen of the vehicles indicating Left Hand Drive to alert

other motorist that the driver's seat is on the left side instead of on the

right side.https://store.theartofservice.com/the-special-purpose-vehicle-toolkit.html

High-speed rail in India - History

1 (RVNL), a special purpose vehicle that carries out the construction works for Indian Railways.http://articles.economictimes.indiatimes.com/2013-01-

27/news/36564456_1_high-speed-rail-high-speed-trains-first-bullet-trainhttp://www.hindustantimes.com/News-Feed/ColumnsOthers/Don-t-

bite-the-bullet/Article1-913658.aspx It will handle tendering, pre-feasibility studies, awarding contracts and execution of the

projects.http://www.pfie.com/ap-india-%E2%80%93-railways-sets-up-corp-for-bullet-train/21033307.article The corporation will comprise four

members, all of whom will be railway officials.http://zeenews.india.com/news/nation/railways-to-set-up-

corporation-to-focus-on-bullet-train-project_790391.html All high-speed rail lines will be implemented through PPP mode on a Design, Build,

Finance, Operate and Transfer (DBFOT) basis.http://www.railjournal.com/index.php/asia/indian-high-speed-rail-

project-moves-forward.html?channel=542 The corporation was officially formed on 29 October 2013.[http://www.railwaygazette.com/news/single-view/view/high-speed-rail-corp-of-india-launched.html] The HSRC will co-

exist with the High-Speed Rail Authority of India (HSRA)


TAFE - Tractors and Farm Equipment Limited - History

1 TAFE acquired Eicher tractor|Eicher tractors in 2005 through a special purpose vehicle, TAFE Motors and Tractors Limited (TMTL), which is a

wholly owned subsidiary. It has major presence in a number of Indian states like Rajasthan, Gujarat,

Andhra Pradesh, Karnataka, Madhya pradesh and Uttar pradesh.


Steel Authority of India Limited - International Coal Ventures Private Limited

1 International Coal Ventures Private Limited is a special purpose vehicle

set up to achieve the target of making steel PSUs self-reliant in the area of coking coal, a joint venture company has been incorporated

composed of five central PSU companies i.e. SAIL, Rashtriya Ispat

Nigam Limited (RINL), Coal India Limited and other target countries.


Mortgage-backed security - Securitization

1 # Mortgage loans (mortgage notes) are purchased from banks and other

lenders, and possibly assignment (law)|assigned to a special purpose

vehicle (SPV).


Credit default swap

1 In addition to corporations and governments, the reference entity

can include a special purpose vehicle issuing Asset-backed security|asset-

backed securities.


American International Group - Financial crisis

1 The U.S. Department of The Treasury in December 2012 published an itemized list of the loans, stock

purchases, special purpose vehicles (SPVs) and other investments

engaged in with AIG, the amount AIG paid back and the positive return on

the loans and investments to the government.


Olympus scandal - Questionable acquisitions

1 Seventeen Cayman and BVI special purpose vehicles were used to make

payments; funds flowed through Commerzbank AG, Societe Generale

SA and LGT Bank.Yamaguchi, Yuki and Yasu, Mariko (13 December

2011)


Chartis - History

1 On July 27, 2009, AIG announced it intended to form a Special Purpose

Vehicle (SPV) for Commercial Insurance, Foreign General and the Private Client Group which would be

placed into the SPV and renamed Chartis in preparation for an IPO or

other equity offer


Gillian Tett

1 She has written about the financial instruments that were part of the cause of the financial crisis that

started in the fourth quarter of 2007, such as Collateralized debt

obligation|CDOs, credit default swaps, Structured investment

vehicle|SIVs, Real Estate Mortgage Investment Conduit|conduits, and

Special purpose vehicle|SPVshttps://store.theartofservice.com/the-special-purpose-vehicle-toolkit.html

Securitization - Pooling and transfer

1 A suitably large portfolio of assets is pooled and transferred to a 'special

purpose vehicle' or 'SPV' (the 'issuer'), a tax-exempt company or

trust formed for the specific purpose of funding the assets


Securitization - Servicing

1 A 'servicer' collects payments and monitors the assets that are the crux of the structured financial deal. The servicer can often be the originator,

because the servicer needs very similar expertise to the originator

and would want to ensure that loan repayments are paid to the Special

Purpose Vehicle.


Special purpose vehicle

1 A 'special purpose entity' ('SPE'; or, in Europe and India, 'special purpose vehicle'/'SPV', or, in some cases in

each EU jurisdiction ndash; FVC financial vehicle corporation) is a

legal entity (usually a company (law)|limited company of some type or, sometimes, a limited partnership) created to fulfill narrow, specific or

temporary objectiveshttps://store.theartofservice.com/the-special-purpose-vehicle-toolkit.html

Commercial Paper Funding Facility

1 The CPFF was created on October 27, 2008 and funded a special purpose vehicle (SPV) that purchased three-month unsecured and asset-backed commercial paper (CP) from eligible

issuers


Commercial Paper Funding Facility - Explanation

1 issuers of commercial paper through a special purpose vehicle, aka SPV, which bought unsecured and asset-

backed commercial paper for 3 month period from eligible issuers

with funds made available by the NY Fed


Shadow banking system - Examples

1 depository banks moved an estimated $5.2 trillion in assets and

liabilities off their balance sheets into special purpose vehicles (SPEs) or

similar entities


National Asset Management Agency - How NAMA works

1 The Bill envisages that NAMA will arrange and supervise the identification and valuation of

property-backed loans on the books of qualifying financial institutions in Ireland, but will delegate the purchase and management of these loans to

a separately created Special Purpose Vehicle (SPV).[http://epp.eurostat.ec.europa.eu/portal/p

age/portal/government_finance_statistics/documents/Annex%202_Methodological

%20paper%20for%20Eurostat%20on%20classificat.pdf Methodological paper for Eurostat on classification of NAMA and SPV].


National Asset Management Agency - Master Special Purpose Vehicle

1 details are provided on the suggested creation by NAMA of a

Master Special Purpose Vehicle (SPV) known as National Asset

Management Ltd and controlled by the holding company National Asset Management Agency Investment Ltd


SsangYong Motor Company - History

1 Beginning in 1976, Hadonghwan produced a

variety of special purpose vehicles


Government policies and the subprime mortgage crisis - Capital requirements and risk classification

1 However, depository banks had moved sizable amounts of assets and

liabilities off-balance sheet, via complex legal entities called special

purpose vehicles


Federal Reserve responses to the subprime crisis - Commercial Paper Funding Facility (CPFF)

1 The Commercial Paper Funding Facility provided loans to a special

purpose vehicle to finance purchases of new issues of asset-backed

commercial paper and unsecured commercial paper from eligible

issuers.


Federal Reserve responses to the subprime crisis - Bear Stearns Companies, Inc. acquisition by JP Morgan Chase Co. (JPMC)

1 Programs included a 'Bridge Loan', an overnight loan provided to JPMC

subsidiary, with which this subsidiary made a direct loan to Bear Stearns Companies, Inc, and 'Maiden Lane

(I)', a special purpose vehicle created to purchase approximately $30

billion of Bear Stearns’s mortgage-related assets.


Federal Reserve responses to the subprime crisis - AIG Assistance

1 # 'Maiden Lane II', a special purpose vehicle created to purchase RMBS

from securities lending portfolios of AIG subsidiaries.


Federal Reserve responses to the subprime crisis - AIG Assistance

1 # 'Maiden Lane III', a special purpose vehicle created to purchase

collateralized debt obligations on which AIG Financial Products had

written credit default swaps.


Collateralized debt obligation - Structures

1 * Cash CDOs involve a portfolio of cash assets, such as loans, corporate bonds,

asset-backed security|asset-backed securities or mortgage-backed security|

mortgage-backed securities. Ownership of the assets is transferred to the legal entity

(known as a special purpose vehicle) issuing the CDO's tranches. The risk of loss on the

assets is divided among tranches in reverse order of seniority. Cash CDO issuance

exceeded $400 billion in 2006.


Corsham Computer Centre

1 The site falls within a wider facilities management contract, the Bristol Bath Total Facilities Management

project, which was awarded to Debut Services, a Special purpose entity|Special Purpose Vehicle of Babcock Defence and Bovis Lend Lease, in

September 2007 for a period of three years with the option to extend the contract for a further three years.


American International Assurance

1 It was a member of American International Group, but separated from the group in 2009 after it was finalized that AIA as well as ALICO

(another AIG subsidiary) were placed under the administration of a Special Purpose Vehicle in exchange for the Federal Reserve Bank of New York.http://ir.aigcorporate.com/phoenix.zhtml?

c=76115p=irol-newsArticleID=1360144highlight= In December 2012, AIA was informed by

American International Group Inc


Jaipur - Jaipur BRTS

1 The responsibility for managing Jaipur BRTS has been given to JCSTL, a special purpose vehicle formed by Jaipur Development Authority and

Jaipur Nagar Nigam in a joint venture


Offshore Financial Centre - Regulation

1 An extremely high proportion of hedge funds (which characteristically employ high risk

investment strategies) who register offshore are presumed to be driven by lighter regulatory

requirements rather than perceived tax benefits.[http://www.dailyii.com/article.asp?

ArticleID=1039798LS=EMS73445 ] Many capital markets bond issues are also structured through

a special purpose vehicle incorporated in an offshore financial centre specifically to minimise

the amount of regulatory red-tape associated with the issue.


Offshore Financial Centre - Offshore financial structures

1 In relation to bond issues, offshore special purpose vehicles are often used in relation to Asset-backed security|asset-backed securities

transactions (particularly securitization|securitisations).


Asset-backed security

1 A higher credit rating could allow the special purpose vehicle and, by

extension, the originating institution to pay a lower interest rate (and

hence, charge a higher price) on the asset-backed securities than if the

originating institution borrowed funds or issued bonds.


Shelvoke and Drewry

1 In the late 1970s, SD went head-to-head with its arch-rival Dennis Specialist Vehicles|Dennis, and

began manufacturing fire apparatus|fire engines through its newly

established Special Purpose Vehicles (SPV) division.


Hamilton, Bermuda - Economy

1 As the offshore domicile of many foreign companies, Bermuda has a highly

developed international business economy; it is an exporter of financial services,

primarily insurance, reinsurance, investment funds and special purpose

vehicles (SPV). Finance and international business constitute the largest sector of

Bermuda's economy, and virtually all of this business takes place within the borders of

Hamilton.https://store.theartofservice.com/the-special-purpose-vehicle-toolkit.html

Tranche - Example

1 *A bank transfers risk in its loan portfolio by entering into a credit default swap|default swap with a

ring-fenced special purpose vehicle (SPV).


History of the euro - Reform

1 a temporary bail out mechanism was agreed and devised in the form of a Special

purpose entity|special purpose vehicle (SPV) named European Financial Stability Facility (complemented by the European Financial Stabilisation Mechanism and funds form the International Monetary Fund), aiming at preserving financial

stability in Europe by providing financial assistance to eurozone states in difficulty


Credit derivatives

1 If the credit derivative is entered into by a financial institution or a special purpose vehicle (SPV) and payments

under the credit derivative are funded using securitization

techniques, such that a debt obligation is issued by the financial institution or SPV to support these

obligations, this is known as a funded credit derivative.


European Financial Stability Facility

1 The 'European Financial Stability Facility' ('EFSF') is a special purpose vehicle financed by members of the eurozone to address the European

sovereign-debt crisis


Public-private partnerships

1 Typically, a private sector consortium forms a special company called a special purpose vehicle (SPV) to

develop, build, maintain and operate the asset for the contracted

period.Zheng, J


Denmark and the euro - Consequences of a euro adoption

1 In the wake of the 2010 European sovereign debt crisis European leaders established the

European Financial Stability Facility (EFSF) which is a special purpose

vehicle[http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/114324.pdf] The Council and the member states decided on

a comprehensive package of measures to preserve financial stability in Europe, including a

European financial stabilisation mechanism, with a total volume of up to EUR 500 billion


Collateralized fund obligation - Basic Structure of a CFO

1 Generally, money is allocated into several different tranches by

investors based on priority. A tranche is described as a security that can be divided in to small portions and then sold in those portions to an investor. From the tranches the funds are then

invested into a special purpose vehicle (SPV). SPVs are developed

solely for the purpose of a CFO.https://store.theartofservice.com/the-special-purpose-vehicle-toolkit.html

Temasek Holdings - 2007

1 * In February 2007, Temasek set up and listed the CitySpring

Infrastructure Trust, a yield-oriented vehicle for infrastructure investments

in Asia and took advantage of the increasing depth of the debt market

to introduce different risk-related securities through Astrea (business)|

Astrea, a special purpose vehicle holding a portfolio of investments in

private equity funds.https://store.theartofservice.com/the-special-purpose-vehicle-toolkit.html

Grey import vehicles - The Philippines

1 Commercial vehicles, special purpose vehicles are not under EO 418 and thus are currently

being imported into Subic and [http://www.sastrad.com/poro-point-san-

fernando-shipping Poro Point, San Fernando]. Subic sees roughly 1 cargo ship per week, and

has many licensed locators. A second port, Poro Point is, as of February 2014, once per

month and is solely facilitated by Forerunner Multi-Resources as the licensed locator, and

SASTRAD KK in Japan as the sole shipper.


Dongfeng Motor Group - Philippines

1 The main business are sales of the Dongfeng series light commercial

vehicles, Dongfeng Cummins engines parts, mini-vans, the Special Purpose Vehicle series, pickups, buses, tractor

heads and dump trucks etc.


MetroLink Express Gandhinagar and Ahmedabad

1 'Metrolink Express for Gandhinagar and Ahmedabad

(MEGA)' is a proposed mass-transit rail system for the cities of

Ahmedabad and Gandhinagar, India. The special purpose vehicle company

was established in February 2010 and the Phase–1 of project was

approved in October 2014.


MetroLink Express Gandhinagar and Ahmedabad - History

1 The special purpose vehicle company, Metro Link Express for

Gandhinagar and Ahmedabad (MEGA) Company Ltd, was

established by Government of Gujarat on 4 February 2010 with Rs

200 crore. Later in 2014, it was decided that the Central Government

will own 50% of the company.


Chennai Metro - Planning

1 The approval for the project was finally given by the state cabinet on

7 November 2007 and is to be executed by a special purpose vehicle, the Chennai Metro Rail

Limited (CMRL).


Ludhiana Metro - History

1 A special purpose vehicle, the Ludhiana Metro Rail Corporation

(LMRC), will be established to execute the

project.[http://www.dailypioneer.com/state-editions/chandigarh/92041-

ludhiana-commissioner-now-md-of-metro-project.html The Pioneer]


Ludhiana Metro - Project Details

1 Also a Special Purpose Vehicle (SPV) should be set up for the Ludhiana

Metro and should be registered under Companies Act. It should be a public

sector undertaking of the state government and be named Ludhiana

Metro Rail Corporation.


Pune Metro - Background

1 Pune Metro Rail Corporation (PMRC), a special purpose vehicle (SPV) to

execute for the project, will be formed.


Kolkata LRTS

1 'Kolkata Light Rail Transit System (LRTS)' is a mass rapid transit system

proposed for the city of Kolkata in India. The Government of West Bengal and SREI Infrastructure

Finance signed a memorandum of understanding (MoU) to set up the

light rail transit (LRT) system. A special purpose vehicle, Kolkata Mass

Rapid Transit Pvt Ltd has been formed to execute this Rs.6000 crore

project.


Renault Sport - Sites

1 *Heudebouville (special purpose vehicles manufacturing)


Dedicated Freight Corridor Corporation of India - Introduction

1 DFCCIL has been designated by Government of India as a `special purpose vehicle`, and has been created to undertake planning development, mobilization of

financial resources and construction, maintenance and operation of the

Dedicated Freight Corridors. DFCCIL has been registered as a company

under the Companies Act 1956 on 30 October 2006.


Bangalore Commuter Rail - History

1 The state government approved the suburban rail system on 5 July 2013. Chief

Minister Siddaramaiah approved the system in the 2013-14 state budget that he

presented on 9 July 2013. The budget proposed the setting up of the Bangalore

Suburban Rail Corporation Limited, a special purpose vehicle to implement the project,

and allocated to implement the system. The DULT plans to build four of seven lines

proposed by RITES.


Kochi Metro - Planning

1 A Cabinet decision was taken to form a Special purpose entity|special

purpose vehicle (SPV) called Kochi Metro Rail Ltd


Synthetic CDO - Characteristics

1 These securities are packaged and held by a special purpose vehicle

(SPV), which issues notes that entitle their holders to payments derived

from the underlying assets


Rail Land Development Authority

1 The need for considerable increase in internal generation of resources for such investment had

been realized by the Indian Railways for some time. However, focused efforts in this direction

commenced in 2001 when the idea of setting up a Special purpose entity|special purpose vehicle

to generate non-tariff revenues through commercial exploitation of railway land took

shape. The efforts culminated in the setting up of the 'Rail Land Development Authority (RLDA)'

on 1 November 2006.


Little Chef - 2000–2007

1 The private equity business Permira bought Travelodge and Little Chef from Compass Group in December 2002 for £712million, forming a special purpose vehicle called

TLLC Group Holdings. Those Little Chefs at Moto Hospitality|Moto motorway service areas – formerly the Granada motorway

service areas, and owned by Compass until 2006 – were owned by Moto and operated

as franchised outlets.


Mumbai International Airport - Airport services

1 * Mumbai Aviation Fuel Farm Facility Private Limited (MAFFPL) is a Special Purpose Vehicle of MIAL and Bharat Petroleum, Hindustan Petroleum and

Indian Oil Corporation|Indian Oil, each having a stake of 25%. The Joint

venture received clearance in October 2014 for setting up an

Integrated aviation fuel facility at CSIA.


Balmer Lawrie - History

1 Balmer Lawrie Investments (BLI) is a listed special purpose vehicle which holds the majority stake in Balmer

Lawrie.


Bellary - Air

1 :The contract for the development and operation of this greenfield

airport has been awarded to Chennai-based MARG Limited, which has incorporated a special purpose vehicle, MARG Krishna Devaraya

Airport Pvt. Ltd. In addition to terminal buildings, runways and

control towers, MARG will develop access facilities and build utilities

necessary to serve the airport during the operational phase.


Mason, Ohio - Government/Facilities

1 In addition, the department operates several special purpose vehicles,

including motorcycles, bicycles, and Segways.http://www.imaginemason.o

rg/services/police/about-the-department.cfm


Chelyabinsk Forge-and-Press Plant - Overview

1 The company's main products are special purpose vehicles such as dumpers, short loggers, timber trucks, pipe trucks and

bolsters, as well as wheels for cars, trucks, trolleybuses, trailers and semi-trailers and

for heavy hauler and road construction machinery. In addition, the company

produces forgings and presses used in manufacture of pipeline armature, cars and

trucks, special-purpose equipment, vehicles, railway transport.


King Abdullah Design and Development Bureau - Jordan Light Vehicle Manufacturing LLC (JLVM)

1 JLVM vehicles production strategy is Build to Order and/or Engineer to Order to the customer's specific

requirements ranging from soft skin and special purpose vehicles to fully armoured Internal Security Vehicles

(ISVs) based on a variety of commercial off the shelf chassis


Sentinel tank - Survivors

1 However, states that the Sentinels were too different to the M3s and

Matildas to be used for training and would require modifications and the

manufacture of spares if they were to be used as special purpose vehicles


Mitsubishi Debonair - Model history

1 The Debonair was seen as a special purpose vehicle, and not marketed

towards the general motoring public


HITEC City

1 The Project is being developed by Larsen and Toubro Limited through

its Special Purpose Vehicle, LT Hitech City Limited, a joint venture company

of LT Infocity Limited and Andhra Pradesh Industrial Infrastructure

Corporation Limited.


Panzer I

1 The 'PanzerI' was a light tank produced in Nazi Germany|Germany in the 1930s. The name is short for

the German (armored fighting vehicle mark I), abbreviated . The tank's official German ordnance

inventory designation was Sonderkraftfahrzeug|SdKfz101

(special purpose vehicle 101).Nomenclature see: Gander,

Tanks and Armour: Panzerkampfwagen I II, p.10


Corporation of Chennai - Solid waste management

1 Ltd a special purpose vehicle run by the Hyderabad, India|Hyderabad-

based Ramky Group for a period of seven years starting January 2012


Adyar Eco Park - Early phase

1 The budget of 600 million for creating the park was passed in 2005 and Adyar Creek Eco Park Limited, a special purpose vehicle, was set up

to harness and channel the funds for development


Vehicle registration plates of India - Unique letters

1 In Maharashtra the two letter in each RTO is classified for a different kind of vehicle, eg. MH14BT is assigned for MSRTC buses in Pimpri, MH02CR

is for commercial vehicles in Mumbai, MH31SW is for two wheelers in

Nagpur, MH04GM is for cars in Thane and MH12JK is for special purpose

vehicles in Pune.


Vehicle registration plates of India - Unique letters

1 AA, AB, AC etc.), Big cars by B, Small cars by C, special purpose vehicle such as ambulance,crane etc by D, medium size goods vehicle by G,

heavy vehicles by H, small loading vehicle by L, motor cycles by M,

passenger buses by P, passenger auto by R, Scooter by S, taxis by T

and passengers by E, F, I, J, K, N, Q, U to Z.


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