Jul 24, 2019 09:02
5 yrs ago
1 viewer *
French term
taux du SWAP amortissable
French to English
Bus/Financial
Finance (general)
Facility agreement
In a Facility Agreement, the 'taux du SWAP amortissable' is defined as follows: 'le taux fixe du SWAP amortissable calculé au plus tard deux (2) Jours Ouvrés avant la date de calcul du taux fixe sur la base de l’amortissement résiduel du Prêt à partir des taux fixes d’intérêts échangés contre EURIBOR 6 mois offerts (taux de SWAP offert) par les 16 établissements de crédit donnant quotidiennement à 11 heure, heure de Francfort, une cotation consultable à 11 heure sur la page ISDAFIX2 de Reuters'. It's the term 'amortissable' in particular that I am struggling with ...
Proposed translations
(English)
4 +1 | amortizing interest rate swap |
SafeTex
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3 | fixed amortising swap rate |
Steve Robbie
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Proposed translations
+1
4 hrs
Selected
amortizing interest rate swap
Hello
Similar to other suggestion, but the interest is not fixed (or only in part)
See reference that I'm basing myself on 'cos I had no idea what this term meant
Similar to other suggestion, but the interest is not fixed (or only in part)
See reference that I'm basing myself on 'cos I had no idea what this term meant
Peer comment(s):
agree |
Francois Boye
: https://www.investopedia.com/terms/a/amortizing-swap.asp
24 mins
|
4 KudoZ points awarded for this answer.
Comment: "Thanks to everyone for your help with this!"
1 hr
fixed amortising swap rate
Based on the discussion, the contract says:
You take out a loan. After 3 years, you have the option of converting that loan into a fixed-rate loan. The fixed rate is the "amortising swap rate". Which means in practice - if i've read this right:
i) the fixed rate is the rate you would get if you swapped what remains of your current variable-rate loan for a fixed-rate loan at the Euribor 6-month offered rate (plus (0.2%), whereby
ii) the swap in question is what is known as an "amortising swap", or a "swap amortissable" in French.
https://en.wikipedia.org/wiki/Amortising_swap
https://www.iotafinance.com/Article-Fiche-d-instrument-Les-S...
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Note added at 1 day 23 hrs (2019-07-26 08:56:31 GMT)
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Note: Should just say "amortising swap rate" as the word "fixed" is not actually in the posting.
You take out a loan. After 3 years, you have the option of converting that loan into a fixed-rate loan. The fixed rate is the "amortising swap rate". Which means in practice - if i've read this right:
i) the fixed rate is the rate you would get if you swapped what remains of your current variable-rate loan for a fixed-rate loan at the Euribor 6-month offered rate (plus (0.2%), whereby
ii) the swap in question is what is known as an "amortising swap", or a "swap amortissable" in French.
https://en.wikipedia.org/wiki/Amortising_swap
https://www.iotafinance.com/Article-Fiche-d-instrument-Les-S...
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Note added at 1 day 23 hrs (2019-07-26 08:56:31 GMT)
--------------------------------------------------
Note: Should just say "amortising swap rate" as the word "fixed" is not actually in the posting.
Discussion
Le taux fixe retenu lors de la conversion sera égal au taux de référence, défini ci-après, augmenté de la majoration du Prêt. Le taux de référence sera le Taux du SWAP amortissable, majoré de 0,20%'. Although I'm guessing this isn't of much help ...