| 单词 | drop lock |
| 释义 | drop lock An issue in the bond market that combines the benefits of a bank loan with the benefits of a bond. The borrower arranges a variable-rate bank loan on the understanding that if long-term interest rates fall to a specified level, the bank loan will be automatically refinanced by a placing of fixed-rate long-term bonds with a group of institutions. They are most commonly used on the international market. |
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