Turkish banks usually prefund
the relevant account ahead of the interest payment date in DPR deals.
"Depending on the size, any over-financing in 2018 will be used to enhance the liquidity position of the state to a level sufficient to prefund
a substantial share of the 2019 financing needs".
Hess added that proceeds from these asset sales, along with cash on the balance sheet, will prefund
development of the company's investment opportunity in offshore Guyana.
The service has been hampered in making a profit because of a Congressional requirement mandated in 2006 that it prefund
the pension benefits for workers who have not yet been hired, unique in all of government or business.
The Postal Service continues to struggle with a 2006 congressional mandate to prefund
the healthcare of its future retirees, causing it to default several times on the required installments.
AOC's patent-pending Prefund
technology, part of AOC's EnCompass platform, uses proprietary file and web-based accounts payable (A/P) processes to determine a client's available funds, provide additional funds to pay that client's commercial vendors and conduct vendor payments.
The proceeds from the issuance are expected to be utilized to prefund
maturing debt as well as to call elements of outstanding retail notes at par.
Postal Service spokesman David Partenheimer said in an e-mail that he could not comment on the hiring but that "we agree pursuing revenue-generating ideas is critical to return the Postal Service to profitability, just as cost cutting actions are also vital." The Postal Service last month narrowly missed defaulting on a $5.5 billion payment to prefund
retiree health benefits.
Issa's bill, which does nothing to correct Postal Service overpayments to its pension accounts or the congressional mandate to prefund
health care benefits of future retirees, has the support of only one other member of Congress.
The Postal Service, which ended its third quarter in June with a net loss of $3.5 billion compared with $2.4 billion the same quarter in 2009, argued in its tiling that the primary cause of its liquidity crisis was "structural and related to an overly ambitious requirement to prefund
its future retiree health benefit premiums."
Some state and local governments have taken actions to address liabilities associated with retiree health benefits by setting aside assets to prefund
the liabilities before employees retire and reducing these liabilities by changing the structure of retiree health benefits.
Insurance allows us, individually and on a macro level as a government, to prefund
or prefinance what we know will be future disaster liabilities."