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Repayment

In: The Medium-Term Loan Market

Author

Listed:
  • J. A. Donaldson

    (Imperial Chemical Industries)

  • T. H. Donaldson

    (Morgan Guaranty Trust Company of New York)

Abstract

The maturity of the borrowing refers to the maximum life of any of its elements; thus it matures on the day an which its final element is due to be repaid. The colloquial term “bullet” is given to a loan which matures in a single amount. Such loans are not uncommon for shorter maturities, but for longer maturities of, say, seven to ten years it is normal for a loan to be repaid (amortised) in a series of instalments; these may be annual, semi-annual, or occasionally more frequent. The amortisation schedule specifies the dates and amounts of the repayments and the length of the grace period before they begin.

Suggested Citation

  • J. A. Donaldson & T. H. Donaldson, 1982. "Repayment," Palgrave Macmillan Books, in: The Medium-Term Loan Market, chapter 5, pages 79-92, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-06242-3_5
    DOI: 10.1007/978-1-349-06242-3_5
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