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|Spanish to English translations [PRO]|
|Spanish term or phrase: período de revolvencia|
|This is from a Mexican Trust that issued Bonds (Obligaciones). It even has its own definition for it:|
"'Período de revolvencia' significa el período entre la fecha de emisión de las Obligaciones ("Bonds") y su tercer aniversario, durante el cual el Fiduciario podrá adquirir Créditos Hipotecarios con cargo al Fondo de Adquisión."
I've done quite a bit of research to no avail. I'll really appreciate it if any of you guys can help me.
|Local time: 01:18|
|(term of) validity of revolving fund|
As I understand, the bonds may be used as collateral for the obtention of credit (if the credit comes from the same institution that issues them, this may be seen as a business strategy), being linked to a provision for an acquisition fund. "Revolvencia" in this case would refer to the term in which they may be used as such. The clause makes sense if, after the third year, capital and interests are liquidated without any obligation to renew.
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Local time: 07:18
|Thanks. I finally settled on "Revolving Credit Period". Your suggestion helped me arrive at that conclusion.|
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