Mid Swap definition

Mid Swap means the mid-market quotation rate for a swap period corresponding to the remaining weighted average life of the Notes at the date of redemption of the Notes denominated in euro and calculated on an actual/actual basis for semi-annual payments against 6 month EURIBOR. The Mid Swap is calculated through the interpolation of the rates displayed on the appropriate pages (currently, page EUSA4 and EUSA5) of the Bloomberg screen according to the weighted average life of the Notes. If the agreed page is replaced or service ceases to be available, the Calculation Agent after consultation with the Issuer may (acting reasonably) specify another page or service displaying the appropriate rate. If no screen rate is available for the relevant weighted average life, then the swap rate is calculated based on a linear interpolation between the nearest available screen rates;
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Examples of Mid Swap in a sentence

  • In case the Lenders’ Rate is not greater by more than 0.01% than the rate calculated by the Guarantor using Bloomberg swap manager (SWPM) for a swap having the same characteristics as the profile of the Loan (with the help of the Lenders), then the Lenders’ Rate shall be the Mid Swap Rate for all purposes hereunder.

  • If the conditions of this paragraph (2) apply, then the Third Party Rate plus 0.01% shall be the Mid Swap Rate for all purposes hereunder.

  • However, the interest rate will be reset on each Subsequent Fixed Interest Payment Date such that from (and including) the First Call Date, the applicable per annum interest rate will be equal to the sum of the applicable 5-year Mid Swap Rate on the relevant Coupon Determination Date immediately preceding the relevant Subsequent Fixed Interest Payment Date and the Initial Margin.

  • If on any Reset Determination Date the Relevant Screen Page is not available or the Mid-Swap Rate does not appear on the Relevant Screen Page, the Calculation Agent shall request each of the Mid- Swap Reference Banks to provide the Calculation Agent with its Mid-Market Swap Rate Quotation as at approximately 11.00 a.m. in the principal financial centre of the Specified Currency on the Reset Determination Date in question.

  • In particular, the relevant Final Terms will identify the Interest Commencement Date, the First Reset Date, the Initial Rate of Interest, any Subsequent Reset Date, the Maturity Date, the First Margin, the Reset Period Maturity Initial Mid- Swap Rate, the Subsequent Margin, the Initial Mid-Swap Rate, the Initial Rate of Interest, the Reference Bond Rate and the Original Mid-Swap Rate Basis.

  • No consent of the Holders shall be required in connection with effecting the relevant Alternative Mid Swap Rate as described in this Condition 10.4 or such other relevant adjustments pursuant to this Condition 10.4, including for the execution of, or amendment to, any documents or the taking of other steps by the Issuer or any of the parties to the Trust Deed and/or the Agency Agreement (if required).

Related to Mid Swap

  • Cleared Swap means a Swap that is subject to the mandatory clearing requirement of Section 2(h)(1)(A) of the CEA or any Swap that is intended by a Participant to be submitted to a DCO for clearing contemporaneously with execution.

  • Eligible Swap Counterparty means an entity, which may be an affiliate of a remarketing agent, engaged in the business of entering into derivative instrument contracts that satisfies the Rating Agency Condition.

  • Secured Swap Agreement means a Swap Agreement between (a) any Loan Party and (b) a Secured Swap Provider.

  • Currency Swap Agreement means any currency swap agreement, including all schedules and confirmations thereto, entered into by the Issuer and the Currency Swap Counterparty, as the same may be amended, supplemented, renewed, extended or replaced from time to time.

  • Secured Swap Provider means (i) a Lender or an Affiliate of a Lender (or a Person who was a Lender or an Affiliate of a Lender at the time of execution and delivery of a Rate Contract) who has entered into a Secured Rate Contract with Borrower, or (ii) a Person with whom Borrower has entered into a Secured Rate Contract provided or arranged by GE Capital or an Affiliate of GE Capital, and any assignee thereof.