Would pre-payment be paying back the loan early?

Student or Learner
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
Would pre-payment be paying back the loan early?
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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