  We consider that the price of a firm follows a non linear stochastic delay
differential equation. We also assume that any claim value whose value depends
on firm value and time follows a non linear stochastic delay differential
equation. Using self-financed strategy and replication we are able to derive a
Random Partial Differential Equation (RPDE) satisfied by any corporate claim
whose value is a function of firm value and time. Under specific final and
boundary conditions, we solve the RPDE for the debt value and loan guarantees
within a single period and homogeneous class of debt.
