partial defeasance

(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.

Look at other dictionaries:

  • partial defeasance — (repayment per bond) Euroclear Clearing and Settlement glossary 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 …   Financial and business terms

  • Social Security (United States) — This article is about the retirement/disability program. For the general concept of providing welfare, see Social security. For other uses, see Social Security (disambiguation) …   Wikipedia

  • Floating charge — A floating charge is a security interest over a fund of changing assets of a company or a limited liability partnership (LLP), which floats or hovers until conversion into a fixed charge, at which point the charge attaches to specific assets. The …   Wikipedia

  • reversion — re·ver·sion /ri vər zhən/ n [Anglo French, from Middle French, from Latin reversio act of turning back, from revertere to turn back] 1: the returning of an estate upon its termination to the former owner or to his or her successor in interest 2 a …   Law dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.