What is claimed is:
1. A magnetic garnet single-crystal film, comprising:
a lattice constant of the magnetic garnet single-crystal which does not vary or gradually decreases, and then increases in the direction in which the film grows.
2. A method for producing a magnetic garnet single-crystal film by growing a Bi-substituted magnetic garnet single crystal in a mode of liquid-phase epitaxial growth, comprising the step of:
controlling a lattice constant of the growing magnetic garnet single crystal so that the lattice constant does not vary or gradually decreases with the growth of the single-crystal film, and then increases with the growth of the single-crystal film.
3. A Faraday rotator produced by working a magnetic garnet single-crystal film formed in a mode of liquid-phase epitaxial growth, comprising:
a lattice constant A of the light-receiving surface of the magnetic garnet single-crystal film;
a lattice constant B of the light-emitting surface of the magnetic garnet single-crystal film; and
a lattice constant C of the region of the magnetic garnet single-crystal film spaced by nearly the same distance both from the light-receiving surface of the film and from the light-emitting surface thereof;
wherein the lattice constants A, B and C satisfy the requirement, (AB)2>C.
The claims below are in addition to those above.
All refrences to claim(s) which appear below refer to the numbering after this setence.
1. A hybrid financial security comprising:
at least one senior note comprising a principal payment and an interest payment;
at least one redeemable income note comprising an interest payment;
collateral comprising at least 90% lower than investment grade debt obligations;
a market value asset coverage test;
an initial leverage ratio determined by said senior note and said redeemable income note;
wherein said senior note and said redeemable income note generate revenue which is utilized to purchase said collateral; and
wherein said collateral generates revenue which is utilized to pay said principal payment, said senior note interest payment, and said income note interest payment subject to said market value asset coverage test.
2. The hybrid financial security of claim 1, wherein said at least one senior note is rated as investment grade by a ratings agency.
3. The hybrid financial security of claim 1, wherein said lower than investment grade debt obligations comprises at least one selected from the group consisting of floating rate bank loans, senior secured bonds, and combinations of two.
4. The hybrid financial security of claim 1, further comprising a reinvestment event.
5. The hybrid financial security of claim 1, wherein said leverage ratio is about 3:1.
6. The hybrid financial security of claim 1, further comprising a non-call period.
7. The hybrid financial security of claim 6, wherein said non-call period is two years.
8. The hybrid financial security of claim 1, further comprising a stated maturity.
9. The hybrid financial security of claim 8, wherein said stated maturity is seven years.
10. The hybrid financial security of claim 1, wherein said collateral is managed by a collateral manager.
11. A structured investment, comprising a collateralized debt obligation structure in which the portfolio of hybrid securities defined in claim 1 defines the asset class in the collateralized debt obligation.
12. A method of providing revenue to an investor comprising the steps of:
creating a hybrid financial instrument comprising:
at least one senior note comprising a principal payment and an interest payment;
at least one redeemable income note comprising an interest payment;
collateral comprising at least 90% lower than investment grade debt obligations;
a market value asset coverage test;
an initial leverage ratio determined by said senior note and said redeemable income note;
offering said hybrid financial instrument to an investor;
purchasing of said senior note or said income note by an investor;
utilizing proceeds from said purchase of said senior note or said income note to purchase collateral;
generating revenue from said collateral; and
paying said revenue to said investor;
wherein said market value asset coverage test is utilized to determine the manner and amount of revenue paid to said investor.
13. The method of claim 12, wherein said at least one senior note is rated as investment grade by a ratings agency.
14. The method of claim 12, wherein said lower than investment grade debt obligations comprises at least one selected from the group consisting of floating rate bank loans, senior secured bonds, and combinations of two.
15. The method of claim 12, further comprising a reinvestment event.
16. The method of claim 12, wherein said leverage ratio is about 3:1.
17. The method of claim 12, further comprising a non-call period.
18. The method of claim 17, wherein said non-call period is two years.
19. The method of claim 12, further comprising a stated maturity.
20. The method of claim 19, wherein said stated maturity is seven years.
21. The method of claim 12, wherein said collateral is managed by a collateral manager.