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bridge loan |
Also found in: Dictionary/thesaurus, Wikipedia, Hutchinson | 0.06 sec. |
Bridge Loan A loan for a short-term period, usually two weeks to three years, until long-term financing can be arranged or an obligation is removed. Interest rates are relatively high, often 12-15%. Bridge loans are used to satisfy working capital needs; for example, if a company is arranging for an IPO or a bond issue in the coming months, but needs capital before then, it may take out a bridge loan. In doing so, it will plan to pay back the bridge loan with the money raised in the longer-term financing. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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This report provides an overview of the bridging loan sector in the UK, covering market sizing, issues, competitive trends and includes a 5-year forecast in terms of gross advances. As a result, by June 2002 it was able to fully repay the EUR1-billion bridging loan taken out to finance the Seagram acquisition. Further, the new company has completed a $1,200,000 convertible bridging loan with Cornell Capital LLP. |
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