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Replenishment
In the context of a Securitisation, "replenishment" refers to the process of using the cash received on securitised Assets (E.g. Trade receivables or credit card receivables) to acquire new Eligible Assets. The alternative consists in using the cash received to amortise the securities issued. In a Securitisation transaction, we distinguish between the "replenishment phase" and the "amortisation phase".
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