loan buyback
USA
Loan buybacks refer to a borrower or its affiliate (including a sponsor) buying back part of the borrower's loan from less than all of the lenders in a loan syndicate at less than par value. Loan buybacks became prevalent in the early stages of the financial crisis, when syndicated loans were trading at a substantial discount on the secondary market.
For more on loan buybacks, see:
• Practice Note, Understanding Loan Buybacks ().

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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