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  1. #1
    higurashi is offline Junior Member
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    Default application, pre-payments, maturities........

    Hello,

    I am struggle with a sentence in a company's press release. The article tells that they amend credit facility and term loan agreement.

    The amendment changes the application of any term loan pre-payments from pro-rata maturities to the chronological order of maturities.

    I checked every words with my dictionary but it didn't help me to understand what the whole sentence imply.

    First, what does "application of any term loan pre-payments" mean? I would understand it if its an application of loan. Do "pre-payments" require any application or the word "application" here mean something special?

    Second, about "maturities". My dictionary says it means "deadline" but does not make sense to me. I don't understand the relation between "application" and "maturities".

    Thank you,
    Higurashi

  2. #2
    Tdol is offline Editor, UsingEnglish.com
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    Default Re: application, pre-payments, maturities........

    Would pre-payment be paying back the loan early?

  3. #3
    higurashi is offline Junior Member
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    Default Re: application, pre-payments, maturities........

    Tdol-san,

    I don't know this pre-payment would pay back the loan early but I think it would reduce their debt amount.

    Thank you,
    Higurashi

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