Finance Deals & Syndicated Lending · glossary
The rule for turning a yearly rate into interest. Euro loans count the actual days but treat the year as 360 days long, so a full year costs a little more than the headline rate. Sterling loans use a 365-day year. Clause 26.1 · Chapter 5
Explained in Chapter 5, Anatomy of a Facility Agreement, of Finance Deals & Syndicated Lending.
Also explained in Derivatives.
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