Secured Loans
Note with maturity that can be extended by mutual agreement between the issuer
and investors.
Extension
Voluntary arrangements to restructure a firms debt, under which the payment
date is postponed.
Extension date
The day on which the first option either expires or is extended.
Extension swap
Extending maturity through a swap, e.g. selling a 2-year note and buying one
with a slightly longer current maturity.
External efficiency
Related: pricing efficiency.
External finance
Finance that is not generated by the firm: new borrowing or a stock issue.
External market
Also referred to as the international market, the offshore market, or, more
popularly, the Euromarket, the mechanism for trading securities that (1) at
issuance are offered simultaneously to investors in a number of countries and (2)
are issued outside the jurisdiction of any single country. Related: internal market
Extinguish
Retire or pay off debt.
Extraordinary positive value
A positive net present value.
Extra or special dividends
A dividend that is paid in addition to a firms regular quarterly dividend.
Extrapolative statistical models
