linked to

English translation: linked to an unquoted equity instrument

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

English term or phrase:	linked to
Selected answer:	linked to an unquoted equity instrument
Entered by:	Anna Maria Augustine (X)

20:24 Apr 10, 2007

English language (monolingual) [PRO]
Bus/Financial - Accounting

English term or phrase: linked to

Could you help me clarify the meaning of one of the sentences below?
Here's the context:
Borrowings incorporating embedded derivatives

Borrowings incorporating embedded derivatives represent hybrid financial instruments. The Group has borrowings under Total Return Swap (TRS) transactions which are classified as hybrid instrument incorporating a host debt instrument and TRS embedded derivative. An embedded derivative is separated from the host debt contract and accounted for as derivative if its economic characteristics are not closely related to the economic characteristics of the host debt instrument. In this case, the host debt instrument is also separately accounted for as disclosed in the accounting policies mentioned above (borrowings). In case where the Group is not able to measure the embedded derivative separately either at inception or at subsequent financial reporting date, then the entire hybrid instrument is accounted for as held for trading. Financial liabilities held for trading are re-measured at fair value and any fair value changes are recognised through the income statement. Any liability that is linked to **and must be settled by delivery of an unquoted equity instrument whose fair value cannot be reliably measured is measured at cost.

Any liability that is linked to **what**?
What is the liability linked to?

Grzegorz Mysiński KudoZ activity Questions: 1925 (none open) (45 closed without grading) Answers: 1782 Poland
Local time: 18:32

linked to an unquoted equity instrument

Explanation:
Maybe.

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Note added at 6 mins (2007-04-10 20:31:04 GMT)
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A complicated/complex phrase which could have been expressed in a more comprehansible manner but then, this is often the case.

Selected response from:

Anna Maria Augustine (X)
France
Local time: 18:32

Grading comment

Thank you!
4 KudoZ points were awarded for this answer

SUMMARY OF ALL EXPLANATIONS PROVIDED

1 +7

linked to an unquoted equity instrument

Anna Maria Augustine (X)

2 +5

linked to an unquoted equity instrument

Mark Nathan

2 +5

linked to an unquoted equity instrument (and the delivery of the unquoted equity instrument)

Caryl Swift

5 +1

delivery of an unquoted equity instrument

David Caswell

Discussion entries: 1

Answers

5 mins confidence:

peer agreement (net): +7

linked to an unquoted equity instrument

Anna Maria Augustine (X)
France
Local time: 18:32
Native speaker of:

English,

French
PRO pts in category: 8

Grading comment

Thank you!

6 mins confidence:

peer agreement (net): +5

linked to an unquoted equity instrument

Explanation:
"and must be settled by delivery of" can be regarded a separate clause

Mark Nathan
France
Local time: 18:32
Native speaker of:

English

9 mins confidence:

peer agreement (net): +5

linked to an unquoted equity instrument (and the delivery of the unquoted equity instrument)

Explanation:
This is what the sentence seems to me to be saying:

Any liability that is linked to an unquoted equity instrument and must be settled by delivery of that unquoted equity instrument is measured at cost if/when the fair value of the unquoted equity instrument cannot be reliably measured.

Caryl Swift
Poland
Local time: 18:32
Native speaker of: English

1 hr confidence:

peer agreement (net): +1

delivery of an unquoted equity instrument

Explanation:
Any liability that is linked to **and must be settled by delivery of an unquoted equity instrument

Because the verbs 'linked' and 'settled' need different prepositions, they cannot be stated in sequence, for example the sentence cannot read, 'liability that is linked and settled by delivery...', but both verbs have as their object 'delivery of an unquoted equity instrument'.

David Caswell
Brazil
Local time: 13:32
Specializes in field
Native speaker of: English

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linked to

English translation: linked to an unquoted equity instrument

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