In Fairways Debt, extensions increase the initial term to maturity of the transaction. You can extend a transaction at any time during its term to maturity.
Note: Extensions only apply to extendable interest rate swaps (IRS).
Navigate to the Debt & Derivatives Application
- Log in to your Fairways Debt account.
- Select a customer account.
- Navigate to Applications
> Debt & Derivatives.
Extend a Transaction
- Open an extendable IRS.
- Navigate to Life Cycle.
- Click Extend.
- Complete the form with all relevant details.
Note: Fields marked with an asterisk * are mandatory.
| Field | Description |
|---|---|
| Trade Date | Timestamp of the extension. The maturity date must be later than the trade date. |
| Maturity Date | New maturity date of the transaction, must be later than the initial maturity date. |
| Extended Interest Rate | New interest rate. |
| Premium | Premium paid for the extension. |
| Currency | Currency in which the premium is paid. |
- Click Apply to extend the transaction.
The extension displays...
... and updates the time frame...
... and schedule.
