| The investors' paid-up funds will be invested in puttable floating rate notes issued by the KfW banking group. |
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| Some PVCC greens were recontoured to allow for more consistent puttable areas for the hole locations while still maintaining faster greens for longer periods of the summer. |
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| That next phase will deal with certain compound financial instruments including puttable shares, convertible bonds, and dual-indexed financial instruments. |
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