Loan note

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Loan Note

A contract stating the terms of a loan, such as the principal, the interest rate, and the payment schedule. A loan note states the rights and obligations of both the lender and the borrower. If one party does not fulfill his/her obligations, the other may sue for redress.

Loan note.

A loan note is a promissory agreement describing the terms of a loan and committing the person or institution borrowing the money to live up to those terms.

For example, a mortgage loan note states the principal balance, the interest rate, the discount points, a payment schedule and due date, and any potential penalties for violating the repayment terms.

When the required repayment has been made, the agreement between the parties ends.

References in periodicals archive ?
Release date- 22082019 - London - Rambler Metals and Mining plc (AIM: RMM) ('Rambler' or the 'Company'), a copper and gold producer, explorer, and developer, is pleased to announce that on 21 August 2019, it closed its previously announced financing transaction with Lombard Odier Asset Management (Europe) Limited ('Lombard Odier') of US$2.5 million in the form of unsecured convertible loan notes (the 'Loan Notes').
The fund has agreed to sell the loan notes to MXC Capital Ltd, 29.9% Adept4 shareholder, for GBP3.5 million if the Cloudcoco buy goes ahead.
On 9 August LOG duly informed the Company of its intention to convert the February 2016 Loan principal and interest up to a 29.99% holding in IOG and exchange the balance of the February 2016 Loan into long-term, unsecured, non-interest bearing loan notes convertible at 8p (the Series A Loan Notes).
Regency's refinanced US$1.254mln worth of loan notes through to July 2024.
Following the issue of the convertible loan note detailed above the company has a total of GBP 2.85m convertible Loan notes outstanding.
('HKBN' or the 'Company'; SEHK stock code: 1310) today announced that it has entered into a Merger Agreement with MBK Partners and TPG (who jointly own 100% of WTT), pursuant to which HKBN through its wholly owned subsidiary has agreed to conditionally purchase all of WTT's shares in exchange for issuing a combination of HKBN shares and Vendor Loan Notes to MBK Partners and TPG.
(SEHK stock code: 1310) has entered into a Merger Agreement with MBK Partners and TPG (who jointly own 100% of WTT), pursuant to which HKBN through its wholly owned subsidiary has agreed to conditionally purchase all of WTT's shares in exchange for issuing a combination of HKBN shares and Vendor Loan Notes to MBK Partners and TPG, the company said.
It is understood that the reward was tied to Matalan's results, which were the best for seven years, and the refinancing of the retailer's loan notes, which were maturing in 2019 and 2020.
New York: Fitch Ratings has affirmed the senior student loan notes at 'AAAsf' and the subordinate student loan notes at 'Asf' issued by Vermont Student Assistance Corp Series 2013-1.
CARDIFF City's historical battle with former owner Sam Hammam over the controversial Langston loan notes is set to hit the High Court again this week.
Also last week, Northern Investors' holding of PS3,578,000 loan notes in Kerridge Commercial Systems Ltd was redeemed by Kerridge at par.
Together with converting existing loan notes of pounds 150k, Fusion IP invested pounds 300k of new money in the round and as a result its undiluted shareholding is 39%.