Professional Documents
Culture Documents
The Bond Market: All Rights Reserved
The Bond Market: All Rights Reserved
The Bond Market: All Rights Reserved
The Bond
Market
Restrictive Covenants
─ Mitigates conflicts with shareholder interests
─ May limit dividends, new debt, ratios, etc.
─ Usually includes a cross-default clause
Unsecured Bonds
─ Debentures
─ Subordinated debentures
─ Variable-rate bonds