Paying agent: Difference between revisions
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imported>John Grout (To clarify use of paying agent and fiscal agent.) |
imported>Doug Williamson m (Spacing, standardise quote marks to single add 'a' before 'trustee'.) |
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In respect of a bond, an institution, a company or a bank which, on behalf of the issuing company that appoints it, makes interest payments and repayment of the principal upon presentation of coupon and/or bond certificates. | In respect of a bond, an institution, a company or a bank which, on behalf of the issuing company that appoints it, makes interest payments and repayment of the principal upon presentation of coupon and/or bond certificates. | ||
The term paying agent is usually used where the bond also has trustee who represents the interests of the bondholders. Where there is no trustee, the agent is commonly referred to as a | The term 'paying agent' is usually used where the bond also has a trustee who represents the interests of the bondholders. | ||
Where there is no trustee, the agent is commonly referred to as a 'fiscal agent'. | |||
== See also == | == See also == | ||
Revision as of 20:21, 1 September 2014
In respect of a bond, an institution, a company or a bank which, on behalf of the issuing company that appoints it, makes interest payments and repayment of the principal upon presentation of coupon and/or bond certificates.
The term 'paying agent' is usually used where the bond also has a trustee who represents the interests of the bondholders.
Where there is no trustee, the agent is commonly referred to as a 'fiscal agent'.
