Finance Deals & Syndicated Lending · glossary
The fallback when EURIBOR fails. If it is unavailable, or lenders holding more than 35% of the loans say their funding costs more, each lender charges its own cost of funds plus the margin for that period. It is negotiated on almost every deal and almost never used. Clause 8.4 · Chapter 6
Explained in Chapter 6, Interest, Fees and the Cost of Money, of Finance Deals & Syndicated Lending.
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