Home > Glossary > Variable Rate Demand Note - VRDN
Meaning / Definition of
Variable Rate Demand Note - VRDN
Categories: Finance,
A debt instrument that represents borrowed funds that are payable on demand and accrue interest based on a prevailing money market rate, such as the prime rate. The interest rate applicable to the borrowed funds is specified from the outset of the debt, and is typically equal to the specified money market rate plus an extra margin.
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