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 ?
Debenture holders are advised that questions related to the surrender of debentures covered by the tender offer should be directed to BNY Mellon, the paying agent for the tender offer, at 212-815-5283.
To comply with the DTC's rules and avoid late payments to bondholders, the Government Finance Officers Association strongly recommends that paying agents provide funds and CUSIP details to the DTC no later than 1 p.
Citigroup, Inc (NYSE: C) was appointed as delegate trustee and paying agent for first sukuk that was cleared through NASDAQ Dubai.
Issuers don't need to appoint a bank as transfer agent, registrar, or paying agent.
Questions relating to the Notice of Redemption and related materials should be directed toComputershare Shareowner Services, the Company's transfer agent and the paying agent (the "Paying Agent") for the redemption of the Preferred Stock at (866) 230-9138.
Andrew Leamon, director of Global Debt Services (GDS) at Deutsche Bank in Dubai, said, 'We are very pleased to have been selected by TDIC as issuing & paying agent for their debut global medium term note (GMTN) programme.
ET on payable date, or earlier if required by the paying agent, to guarantee receipt of same-day funds at DTC by 2:30 p.
In accordance with the terms and conditions of the exchange offer, and based on the preliminary count by the tender and paying agent, PDL expects to accept for exchange $168,972,000 principal amount of Old Notes for a like principal amount of New Notes and aggregate note exchange payments of $844,860.
Payment of the Fundamental Change Purchase Price will be made in cash by the Paying Agent on the Fundamental Change Purchase Date upon presentation and surrender of Notes at the address set forth below under "Manner of Purchase.
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.
To exercise the option, holders must deliver a purchase notice to the paying agent on or before June 2, 2006, the business day prior to the purchase date, and surrender their LYONs to the paying agent before, on or after the purchase date.
as the paying agent for payment of the merger consideration.