Make whole clause - Revision history

imported>Doug Williamson: Layout.

2021-12-10T15:40:27Z

Layout.

← Older revision		Revision as of 15:40, 10 December 2021
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	Under a make whole clause the borrower/issuer has to value the cash flows beyond the date of the early call/redemption at the government bond yield.		Under a make whole clause the borrower/issuer has to value the cash flows beyond the date of the early call/redemption at the government bond yield.


	This potentially makes it prohibitively expensive for the issuer to take an early redemption.		This potentially makes it prohibitively expensive for the issuer to take an early redemption.

imported>Doug Williamson: Categorise.

2018-03-14T09:50:17Z

Categorise.

← Older revision		Revision as of 09:50, 14 March 2018
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	* [[Security]]		* [[Security]]
	* [[Spens clause]]		* [[Spens clause]]

			[[Category:Accounting,_tax_and_regulation]]
			[[Category:Corporate_financial_management]]

imported>Doug Williamson: Generalise to international context.

2018-03-05T17:13:05Z

Generalise to international context.

← Older revision		Revision as of 17:13, 5 March 2018
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	''~~US - securities~~''.		''Securities''.

	A strong form of protection for lenders/investors in securities, designed to mitigate the adverse effects of call risk for investors.		A strong form of protection for lenders/investors in securities, designed to mitigate the adverse effects of call risk for investors.

	Under a make whole clause the borrower/issuer has to value the cash flows beyond the date of the early call/redemption at the US government bond yield.		Under a make whole clause the borrower/issuer has to value the cash flows beyond the date of the early call/redemption at the government bond yield.

	This potentially makes it prohibitively expensive for the issuer to take an early redemption.		This potentially makes it prohibitively expensive for the issuer to take an early redemption.

	The consequence of a make whole clause for the investor is that they can re-invest the redemption monies in US government stock, thus preserving their originally expected cash inflows at lower risk.		The consequence of a make whole clause for the investor is that they can re-invest the redemption monies in government stock, thus preserving their originally expected cash inflows at lower risk.

imported>Doug Williamson: Update header.

2018-01-14T21:46:43Z

Update header.

← Older revision		Revision as of 21:46, 14 January 2018
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	''US - securities''		''US - securities''.

	A strong form of protection for lenders/investors in securities, designed to mitigate the adverse effects of call risk for investors.		A strong form of protection for lenders/investors in securities, designed to mitigate the adverse effects of call risk for investors.

imported>Doug Williamson: Expand to mention Make whole provisions.

2017-09-09T11:55:54Z

Expand to mention Make whole provisions.

← Older revision		Revision as of 11:55, 9 September 2017
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	Make whole clauses are similar in their effect to Spens clauses.		Make whole clauses are similar in their effect to Spens clauses.

			Sometimes known as a make whole ''provision''.

imported>Doug Williamson: Link with Clause page.

2017-09-04T19:28:40Z

Link with Clause page.

← Older revision		Revision as of 19:28, 4 September 2017
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	== See also ==		== See also ==
	* [[Call risk]]		* [[Call risk]]
			* [[Clause]]
	* [[Security]]		* [[Security]]
	* [[Spens clause]]		* [[Spens clause]]

imported>Doug Williamson: Expand title.

2017-08-28T15:48:50Z

Expand title.

← Older revision		Revision as of 15:48, 28 August 2017
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	''US''.		''US - securities''

	A strong form of protection for lenders/investors in securities, designed to mitigate the adverse effects of call risk for investors.		A strong form of protection for lenders/investors in securities, designed to mitigate the adverse effects of call risk for investors.
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	The consequence of a make whole clause for the investor is that they can re-invest the redemption monies in US government stock, thus preserving their originally expected cash inflows at lower risk.		The consequence of a make whole clause for the investor is that they can re-invest the redemption monies in US government stock, thus preserving their originally expected cash inflows at lower risk.


	Make whole clauses are similar in their effect to Spens clauses.		Make whole clauses are similar in their effect to Spens clauses.

imported>Doug Williamson: Add link.

2016-06-06T20:25:42Z

Add link.

← Older revision		Revision as of 20:25, 6 June 2016
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	== See also ==		== See also ==
	* [[Call risk]]		* [[Call risk]]
			* [[Security]]
	* [[Spens clause]]		* [[Spens clause]]

imported>Doug Williamson: Spacing 22/8/13

2013-08-22T09:44:41Z

Spacing 22/8/13

← Older revision		Revision as of 09:44, 22 August 2013
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	''US''.		''US''.

	A strong form of protection for lenders/investors in securities, designed to mitigate the adverse effects of call risk for investors.		A strong form of protection for lenders/investors in securities, designed to mitigate the adverse effects of call risk for investors.

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	Make whole clauses are similar in their effect to Spens clauses.		Make whole clauses are similar in their effect to Spens clauses.


	== See also ==		== See also ==
	* [[Call risk]]		* [[Call risk]]
	* [[Spens clause]]		* [[Spens clause]]

imported>Administrator: CSV import

2012-10-23T14:20:02Z

CSV import

New page

''US''.
A strong form of protection for lenders/investors in securities, designed to mitigate the adverse effects of call risk for investors.

Under a make whole clause the borrower/issuer has to value the cash flows beyond the date of the early call/redemption at the US government bond yield.

This potentially makes it prohibitively expensive for the issuer to take an early redemption.

The consequence of a make whole clause for the investor is that they can re-invest the redemption monies in US government stock, thus preserving their originally expected cash inflows at lower risk.

Make whole clauses are similar in their effect to Spens clauses.

== See also ==
* [[Call risk]]
* [[Spens clause]]