In return the clubs received a set schedule of payments based on performance as well as the right to gate money and their usual game-day commercial activities.
As a result, the cardmembers can schedule their payments accordingly leading to either (i) sooner settlement of loans in case of an impending rise in rates, or (ii) a delayed settlement of loans in case of a decline in interest rates.
He asked about the annual schedule for interest payments and the broker responded with the dates from the bond, noting that no payment would be made for 12 months in the first year.