paydown

(redirected from Paid Down)
Also found in: Idioms.

Paydown

1. A payment on the interest and/or principal on a loan; debt service.

2. When a bond is called or matures and a new one is issued, the amount by which the face value of the old issue exceeds the face value of the new one. This represents a reduction in the issuer's debt. If a company pays out $10,000,000 in bond maturities and then issues $7,000,000 in new bonds, this is an example of paydown, because the company now has $3,000,000 less in debt.

paydown

In a corporate or U.S. Treasury refunding, the amount by which the face value of the bonds being refunded exceeds the par value of the new bonds being sold. The paydown represents the amount by which the debt is reduced.
References in periodicals archive ?
Class B has been receiving principal payments pro-rata with the class A and has paid down to its floor of 75% of its initial balance.
As of the October distribution date, the transaction balance had paid down 82.
6%) have defeased, and the pool has paid down an additional 3%.
After the reinvestment period, principal payments on the rated notes will be paid pro rata to both the revolving facility (first to redeem the drawn amount and then to the SSCA to defease the undrawn amount) and the funded notes until the ramp-up collateral balance has paid down to 50% of its original balance or until the failure of a principal coverage test, after which principal proceeds will be paid sequentially for the remainder of the deal.
After the reinvestment period, the GIC account excess amount is released to make pro rata payments to the senior swap drawn amount and the funded notes until the original reference portfolio balance is 50% paid down or until the failure of any coverage test.
In the event that any of these tests are not met, payments will be made on a pro rata basis (except for the senior coverage test, pursuant to which payments are made sequentially) until the failing coverage test is back in compliance and the notes that will be paid down are those included in the coverage test.
In the event that any of these tests are not met, payments will be made on a pro rata basis (except for the senior coverage test, payments are made sequentially) until the failing coverage test is back in compliance and the notes that will be paid down are those included in the coverage test.
As of the August 2005 distribution date, the pool has paid down 72% to $143.
Given CBE's moderate spending for capital expenditures, acquisitions, and dividends and share repurchases, Fitch expects that more than half of CBE's 2005 maturities ($760 million) will be paid down using the company's strong cash positions (cash on hand and free cash flow).
There are currently no loans in series 2004-1 that are 90 plus delinquent (including bankruptcies, foreclosures, and real estate owned), 47% of the collateral has paid down, and there have been no losses.
In the event that any of these coverage tests are not met, payments will be made on a pro rata basis (except for the senior coverage test, payments are made sequentially) until the failing coverage test is back in compliance and the notes that will be paid down are those included in the coverage test.
As of the May 2005 distribution date, the pool has paid down 70.