Synopsis
Excerpt from An Analysis of Revolving Credit Agreements: March 1981
This paper examines the pricing of intermediate term line commitments, often called revolving credit agreements. Their characteristics, covenants, and compensating balance features are discussed. The fixed portion of the line is described as a dual phased option; it behaves as a put or a call depending on whether bank borrowing is undertaken. Two valuation models, based on the use of the borrowing, are derived for infinitely-lived line commitments. The pattern of borrowing by the firm is shown to principally depend on the relative size of the fixed and variable costs of the line.
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An Analysis of Revolving Credit Agreements: March 1981 (Classic Reprint)
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Paperback. Etat : New. Print on Demand. This book examines a specific type of financial instrument used by banks and corporations called a revolving credit agreement or line of credit. The author explores how the loan conditions and fee parameters of these agreements are structured, and how they impact the companies that use them. The author proposes two valuation models for these loans based on whether the company keeps the line of credit open, or borrows from it. These models explore how changing variables affect the firm's strategy and provide insights into the trade-offs between fixed and variable loan costs. The author also discusses covenants attached to these agreements that protect the lending institution and their impact on the firm's financial flexibility. This book provides a thorough analysis of revolving credit agreements, their costs and benefits, and helps the reader understand the motivations and behaviors of both lenders and borrowers in this financial market. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. N° de réf. du vendeur 9781332249237_0
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An Analysis of Revolving Credit Agreements March 1981 Classic Reprint
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PAP. Etat : New. New Book. Shipped from UK. Established seller since 2000. N° de réf. du vendeur LW-9781332249237
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An Analysis of Revolving Credit Agreements : March 1981 (Classic Reprint)
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Forgotten Books, 2015
ISBN 10 : 133224923X
ISBN 13 : 9781332249237
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Etat : Sehr gut. Zustand: Sehr gut | Sprache: Englisch | Produktart: Bücher | Keine Beschreibung verfügbar. N° de réf. du vendeur 26071314/2
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