paying agent


Also found in: Acronyms.

Paying agent

An agent who makes principal and interest payments to bondholders on behalf of the issuer.

Paying Agent

An institution, usually an investment bank, that accepts funds from the issuer of a security and distributes them to that security's holders. In stocks, a paying agent receive dividends, which it then disburses to stockholders. In bonds, it receives coupon payments, which it then gives to bondholders. A paying agent acts as an intermediary in these transactions, and receives a fee for these services. See also: Outsourcing.

paying agent

A financial institution that makes the payments to the holders of an issuer's securities. For example, an indenture will name a paying agent responsible for making interest and principal payments on a bond issue.
References in periodicals archive ?
Bank National Association, as trustee, paying agent, registrar, authentication agent and transfer agent (with UMB Bank National Association as successor trustee, paying agent, registrar, authentication agent and transfer agent), and Deutsche Bank Trust Company Americas, as collateral agent, governing iHeartCommunications' 11.
As discussed further below, Issuer's ability to rely on Paying Agent as a "payee" depends on the level of activity undertaken by Paying Agent, as well as the contractual arrangements between the parties.
Shad's encouragement to issue new debt in global book-entry form, saving the expense and hassles of physical certificates, transfer agents, paying agents, and registrars.
An amended Return of Funds Policy, approved by the SEC and effective May 1, 1997, stated that paying agents are required to submit requests for the return of funds within one day of payable date if they have remitted funds on behalf of an issuer which subsequently has not paid the paying agent.
Bond Trustee/Paying Agent & Custody Services In order to secure the payment of the principal of and interest on all Bonds and Subordinate Obligations of the NOAB and to insure the performance of terms, conditions, stipulation, covenants and agreements under its Master Indentures and Supplemental Trust Indentures and any future a indentures, the NOAB is seeking trust and paying agent services to provide services, including but not limited to the following: (a) Establish and maintain all funds and accounts and apply bond proceeds and pledged revenues as required by each Master Indenture, Supplemental Trust Indenture and any future indentures.
Germany-based Deutsche Bank (NYSE: DB) has been appointed as issuing & paying agent for the debut Global Medium Term Note programme of Abu Dhabi Tourism Development & Investment Company (TDIC).
BNY Mellon, the trustee and paying agent for the tender offer, received $763,828,000 aggregate principal amount of debentures validly surrendered and not validly withdrawn.
Peru-based Banco Continental has appointed Bank of New York Mellon (BofNY) (NYSE: BK) as registrar, paying agent and administrative agent for its USD250m diversified payment rights bond issue.
To exercise the option, holders must deliver a purchase notice to the paying agent on or before July 29, 2008, the third business day prior to the purchase date, and surrender their Notes to the paying agent prior to, on or following the purchase date.
as the paying agent for payment of the merger consideration.
65 per share in euros, based on the exchange rate of 15 June 2007 fixed by the paying agent mentioned below.