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Glossario

Business Day Convention

Categoria — Nozioni Generali

Business Day Convention means that if any interest payment date or bond redemption date falls on a day that is not a business day, then the corresponding payment of principal or interest on the bonds will be made on the next day, which is a business day, as well as if it would have been made on the date on which such payment should have been made.

Following Business Day Convention: A business day agreement where the relevant date is to be moved to the first following day that is a business day. For example: Landesbank Hessen-Thueringen (Helaba), FRN 23mar2032, EUR

Modified Following Business Day Convention: A business day agreement whereby pay days that fall on a holiday, Saturday, or Sunday are rolled over to the next target business day. If that day falls in the next calendar month, the due date is rolled over to the immediately preceding target business day. For example: Helgeland Sparebank, FRN 19mar2027, NOK

Preceding Business Day Convention: A business day agreement where the relevant date is to be moved to the first previous day that is a business day. For example: ALM. Brand, FRN 14oct2031, DKK

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