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Paying Agent

   Also found in: Acronyms 0.01 sec.
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.


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Summary: Deutsche Bank today announced its appointment as issuing & paying agent for the debut Global Medium Term Note program of Tourism Development & Investment Company (TDIC).
Details of the exchange procedures, including letters of transmittal, will be sent to Cruzan stockholders in the next week by the paying agent engaged by Absolut, the company said.
If the Reserve Banks withdraw from the service, depository institution customers would have several reasonable, private-sector options available for processing definitive municipal securities such as through the Depository Trust Company, correspondent banks, or direct presentment to the paying agents.
 
 
 
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