Extendible note programs have generated considerable interest in the short-term debt market.Lately, a number of stand alone extendible note programs as well as extendible notes issued as part of the short-term debt issued by a single seller asset backed conduit have been rated. This article attempts to address major issues relating to extendible notes as well as highlight some of the features of programs that issue extendible notes.

What Are Extendible Notes?

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