sub-participation
C2CEFR level
90/100Rarity: very rare
TechnicalRegister
An arrangement by which a lender transfers the economic risk and return of its loan to a third party without transferring the loan itself or creating privity with the borrower.
Rather than novate, the lender opted for a funded sub-participation to keep its name off the register.
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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