An entity responsible for paying bond principal and interest on behalf of the debtor. American Banker Glossary
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An agent who makes principal and interest payments to bondholders on behalf of the issuer. Bloomberg Financial Dictionary
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A trader known to HM Revenue & Customs (HMRC) and formally set up on the Customs Handling of Import and Export Freight ( CHIEF) system who transmits import or customs warehouse removal declarations to the CHIEF system. HM Customs & Revenue Glossary
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An institution appointed to supervise the payment of dividends to shareholders and the payment of principal and interest to bond holders, on behalf of the issuers of those shares or bonds. For floating rate notes the paying agency also sets the level of the coupon each quarter, based on a reference interest rate on a predetermined day.
► See also FRN.
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paying agent UK US noun [C]
► FINANCE a bank, etc. that manages payments from buyers of a company's shares or bonds, and the payments of dividends and interest to them
Financial and business terms. 2012.