- (repayment per bond)Event that occurs when the issuer sets money aside to redeem a portion of an issue and the indenture states that the securities could be called earlier than the stated maturity. Also: Exchanging one type of collateral for another type (e.g. loans where the original immovable tangible was the collateral, but it is replaced by a more conventional collateral (government bond) because the original collateral was risky, unhandy and expensive in use)
Euroclear glossary. 2008.
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