International Primary Market Association

The original form of this call pricing mechanism was the Spens clause, which required the issuer to call in the bonds at an above-market price if certain events detrimental to the interests of the bondholders took place. Following a decision by the International Primary Markets Association (IPMA) in July 2001, the market convention is that the Spens clause is no longer used, although it remains in many ontstanding issues. Instead, the market now uses a formula to calculate the redemption yield of a bond in the event it is called prior to maturity. This is set out in the UK Debt Management Office (DMO) paper dated 8 June 1998. 

The International Primary Market Association (IPMA) is an association that comprises of financial institutions that are heavily involved in the bond primary market. 

Magnesium is employed ki a wide variety of appHcations, based on its chemical, electrochemical, physical, and mechanical properties. The International Magnesium Association (IMA) divides the markets for magnesium kito 10 categories and tracks the volume of primary magnesium shipments to each market area on an annual basis. 

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