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Par building
See overcollateralisation test.Par coverage test
See overcollateralisation test.Par documentation
The set of legal standards used for the secondary trading of most loans. They...Par value
...PAUG
See pay-as-you-go settlement.Payer
...PAYG
See pay-as-you-go settlement.PCDS
See preferred credit default swap.Physical settlement
A payout following a credit event in which the protection buyer delivers an...Points upfront
...Pre-petition debt
Debt that pre-dates a bankruptcy filing. See debtor-in-possession loan.Preferred credit default swap (PCDS)
Preferred credit default swaps (PCDS) represent another tweaking of standard...Principal coverage test
See overcollateralisation test.Pro-rata loan
A term used collectively to describe revolvers and term loans A, in contrast to...Project red
See Red.Protection buyer
...Protection seller
The counterparty that assumes credit risk in a credit derivative.Prytania Investment Advisors
Prytania Investment Advisors is an independent London-based firm, that...Purchase and sale agreement
An agreement used in secondary loan trades, especially those done on distressed...
