drop lock

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

Nearby words

  1. drop kick,
  2. drop leaf,
  3. drop letter,
  4. drop like a hot potato,
  5. drop like flies,
  6. drop names,
  7. drop off,
  8. drop out,
  9. drop pass,
  10. drop press

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