variable funding note
Russian translation: variable funding note
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| 00:28 Aug 22, 2005 |
| English to Russian translations [PRO] Bus/Financial - Finance (general) | |||||||
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|  Selected response from: Natalia Potashnik United States Local time: 17:57 | ||||||
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| 4 +1 | variable funding note |
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Answers
18 hrs confidence: 
peer agreement (net): +1
peer agreement (net): +1variable funding note Explanation: I could not find a Russian term, but below is the explanation of what this note is. Hope it helps. "In arbitrage CDOs, revolving loans and delayed-draw loans are usually found in variable funding note (VFN) structures which allow CDOs to adjust their funding level to address the use of revolving loans within the portfolio. Since the undrawn portion of a commited debt facility (undrawn commitmemnt) obligates the lender to lend on short notice such undrawn commitment may require special measures, such as obtaining similar borrowing commitments from adequately rated financial institutions." Reference: http://www.securitization.net/pdf/barclays_cdoguide_090601.p... |
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