Glossary entry

German term or phrase:

ablösen

English translation:

redeem (a loan)

Added to glossary by FishX
Jan 10, 2012 12:36
12 yrs ago
7 viewers *
German term

ablösen

German to English Bus/Financial Insurance
Die Kreditgeber verpflichten sich untereinander, die Kredite gem. § 1 für die Dauer dieses Vertrages aufrechtzuerhalten und Reduzierungen oder Streichungen nur in gegenseitigem Einvernehmen vorzunehmen. Dies gilt nicht für außerhalb des Pools gewährte Kredite. Vor einer beabsichtigten Kündigung solcher Kredite ist jedoch der andere Kreditgeber zu informieren. Zugleich ist ihm Gelegenheit zu geben, diese Kredite abzulösen.

This is from a security pooling agreement. The last sentence is causing a problem - it doesn't seem to make sense. What 'diese Kredite' refer to and what does ablosen mean exactly? Thanks for any suggestions.
Proposed translations (English)
4 +1 redeem (a loan)

Proposed translations

+1
22 mins
Selected

redeem (a loan)

redeem = pay off (loans)

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Note added at 27 Min. (2012-01-10 13:04:08 GMT)
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possible also through refinacing /borrowing money somewhere else to pay off this loan

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Note added at 1 Stunde (2012-01-10 14:25:07 GMT)
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borrowing money from somewhere else
seems better
Peer comment(s):

agree philgoddard : This is easily found in the dictionary. http://dict.leo.org/ende?lp=ende&lang=de&searchLoc=0&cmpType...
2 hrs
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4 KudoZ points awarded for this answer. Comment: "thanks."
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