payment-in-kind
C1CEFR level
65/100Rarity: rare
TechnicalRegister
A financing feature under which interest accrues and is added to the loan principal rather than paid in cash, easing near-term cash demands.
The junior note carried a payment-in-kind coupon, so no cash left the business until refinancing.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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