Hard call protection: Difference between revisions
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Revision as of 14:19, 23 October 2012
A strong form of protection for lenders/investors in securities, against the potentially adverse effects of call risk. Hard call protection is simply a ban on any unilateral early redemption of the security by the borrower/issuer. The agreement of the lender/investor is required before any early redemption, on whatever terms the lender/investor insists on for early redemption.
See also