Securities that can be extended with the contractual
(a note [security] the final repayment date of which, contractually agreed, can be extended at the borrower’s will). – As a rule, the extension of the term is then also associated with an adjustment of the interest payment. – The creditor will exercise the right to extend the maturity if he expects that the cost of raising money to repay the debt will be higher today than in the future. – See bond, renewable for repayment.
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