Stripped convertibles

Convertible and exchangeable issuance has risen recently driven by several factors from equity market volatility to German tax reform. Stripped convertibles are convertible bonds where the equity option has been stripped out and represents pure credit, callable after a specified date. 

Stripped convertibles offer investors fantastic avenues to access credits at levels significantly cheaper than comparable bullet bonds. Convertibles appeal most to hedge fund investors who are primarily interested in the cheap equity option and don t care about credit. This combined with... 

The general theory behind the process is that the hypohalite will convert the amide to a haloamide. This then spontaneously changes to the isocyanate when heated and decomposes to the amine from the water present. In effect, all that happens is that a Carbonyl (CO) group is stripped off the starting amide to yield the corresponding amine. Yields pre- purification are around 80%, post-purification average around 65%. Certain uses of the result-... 

Inversion ofMon cjueous Polymers. Many polymers such as polyurethanes, polyesters, polypropylene, epoxy resins (qv), and siHcones that cannot be made via emulsion polymerization are converted into latices. Such polymers are dissolved in solvent and inverted via emulsification, foUowed by solvent stripping (80). SoHd polymers are milled with long-chain fatty acids and diluted in weak alkaH solutions until dispersion occurs (81). Such latices usually have lower polymer concentrations after the solvent has been removed. For commercial uses the latex soHds are increased by techniques such as creaming. 

Owing to the cycHc nature of the TBRC operation, waste heat recovery from the off-gases is not practical and the SO2 content of the gas varies with the converter cycle. In order to supply a relatively uniform flow and strength SO2 gas to a sulfuric acid plant, a system has been installed at RonnskAr whereby the SO2 from fluctuating smelter gases is partially absorbed in water. During smelter gas intermption, SO2 is stripped with air and the concentrated gas deflvered to the acid plant. 

Physicochemical relationships are such that soHd potassium chloride can be converted to soHd potassium nitrate ia a one-stage operation of the simplest kiad. The conversion takes place ia a stirred reaction system (Fig. 10). The overall separation is analogous to a rectification and stripping operation ia a distillation process. 

For solvent extraction of pentavalent vanadium as a decavanadate anion, the leach solution is acidified to ca pH 3 by addition of sulfuric acid. Vanadium is extracted in about four countercurrent mixer—settler stages by a 3—5 wt % solution of a tertiary alkyl amine in kerosene. The organic solvent is stripped by a soda-ash or ammonium hydroxide solution, and addition of ammoniacal salts to the rich vanadium strip Hquor yields ammonium metavanadate. A small part of the metavanadate is marketed in that form and some is decomposed at a carefully controlled low temperature to make air-dried or fine granular pentoxide, but most is converted to fused pentoxide by thermal decomposition at ca 450°C, melting at 900°C, then chilling and flaking. 

The refining process most commonly used involves treatment with hot aqueous alkaH to convert free fatty acids to soaps, followed by bleaching, usually with hydrogen peroxide, although sodium chlorite, sodium hypochlorite, and ozone have also been used. Other techniques include distillation, steam stripping, neutralization by alkaH, Hquid thermal diffusion, and the use of active adsorbents, eg, charcoal and bentonite, and solvent fractionation... 

In one patent (31), a filtered, heated mixture of air, methane, and ammonia ia a volume ratio of 5 1 1 was passed over a 90% platinum—10% rhodium gauze catalyst at 200 kPa (2 atm). The unreacted ammonia was absorbed from the off-gas ia a phosphate solution that was subsequently stripped and refined to 90% ammonia—10% water and recycled to the converter. The yield of hydrogen cyanide from ammonia was about 80%. On the basis of these data, the converter off-gas mol % composition can be estimated nitrogen, 49.9% water, 21.7% hydrogen, 13.5% hydrogen cyanide, 8.1% carbon monoxide, 3.7% carbon dioxide, 0.2% methane, 0.6% and ammonia, 2.3%. 

The effect is best illustrated by a numerical example (Table 31.4). Let us take the case of hard and alkaline deep well water such as that found to the north of London, whose main characteristics are shown in the first column of Table 31.4. The second column shows its quality after de-alkalization has removed nine-tenths of the temporary hardness and converted it into CO2 gas. This is removed from the water by stripping it with air in a packed degassing column, and the product then softened in the third stage to yield the product shown in the third column. 

In the case of tantalum-containing solutions, a sharp drop in Ta205 concentration was observed also at pH > 10. The precipitated material was identified as a pure amorphous powder, which after appropriate thermal treatment was converted into tantalum oxide. Fig. 137 presents isotherms (20°C) of Ta205 concentration versus pH for solutions with compositions close to those of industrial strip solutions. 

Since the duration of sweet sorghum for maturation is approximately 3-5 months, 2-3 crops could be harvested annually in Thailand. Therefore, the production yields of sugar would be double or triple. We can see the possibility of reducing the world energy crisis if sweet sorghum can be converted to energy efficiently. Typically, after harvest, the leaves of the fresh crop are stripped and the stems are squeezed in a roller mill (Fig.3) to obtain sweet sorghum juice, ft should be noted that the stems are stored at 4° C while the juice is kept at -20° C prior to use. 

Weiss et al. [75] have synthesized Na and Zn salt of sulfonated styrene(ethylene-co-butylene)-styrene triblock ionomer. The starting material is a hydrogenated triblock copolymer of styrene and butadiene with a rubber mid-block and PS end-blocks. After hydrogenation, the mid-block is converted to a random copolymer of ethylene and butylene. Ethyl sulfonate is used to sulfonate the block copolymer in 1,2-dichloroethane solution at 50°C using the procedure developed by Makowski et al. [76]. The sulfonic acid form of the functionalized polymer is recovered by steam stripping. The neutralization reaction is carried out in toluene-methanol solution using the appropriate metal hydroxide or acetate. 

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