noun
-
finance a variable-rate bank loan used on international markets that is automatically replaced by a fixed-rate long-term bond if the long-term interest rates fall to a specified level; it thus combines the advantages of a bank loan with those of a bond
"Collins English Dictionary — Complete & Unabridged"
2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986
© HarperCollins Publishers 1998, 2000, 2003, 2005,
2006, 2007, 2009, 2012
Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.
