Finance Deals & Syndicated Lending · glossary
An agreement to push back a loan's final repayment date instead of refinancing it, usually for a fee and a higher margin. Each lender decides for itself, because a later payment date needs every lender's consent. Clause 27.2 · Chapter 11
Explained in Chapter 11, The Agent and the Syndicate, of Finance Deals & Syndicated Lending.
The list also explains an amend-and-extend. Instead of refinancing a loan that is coming due, the parties push back its final repayment date, usually for a fee and a higher Margin. That falls under paragraphs (b) and (d), so no lender can be forced to extend. Each lender decides for itself, and a lender that will not extend is repaid or replaced.Read Chapter 11, The Agent and the Syndicate →
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