Show Summary Details
Mayson, French & Ryan on Company Law

Mayson, French & Ryan on Company Law (37th edn)

Derek French
Page of

Printed from Oxford Law Trove. Under the terms of the licence agreement, an individual user may print out a single article for personal use (for details see Privacy Policy and Legal Notice).

date: 10 December 2022

p. 757C. Marketable loanslocked

p. 757C. Marketable loanslocked

  • Derek French

Abstract

This chapter deals with arrangements by which a company borrows a large sum of money long term. The money is put up by a number of investors who are entitled to receive interest payments (usually twice a year) and, at the end of the term of the loan, repayment of principal. Sale of all or part of an investor’s entitlements is possible and arrangements are usually made for trading on a stock exchange. Marketable loans were once issued to the general public in the same way as shares, but nowadays they are usually held in large quantities by financial institutions and specialist investors. They are described as ‘wholesale’ rather than ‘retail’ investments. Interests in marketable loans are called ‘debt securities’, ‘bonds’ or ‘debentures’.

You do not currently have access to this chapter

Sign in

Please sign in to access the full content.

Subscribe

Access to the full content requires a subscription