Tue 08/24/2021 09:38 AM
The language in bond indentures and offering memoranda is not always straightforward. In our Covenant 101 series, we demystify key concepts and provisions of high-yield covenants, explaining them in plain English. We hope this series will be a valuable resource for market participants’ forays into high-yield covenants.
In this installment of our
Covenant 101 series we examine the requirements of a high-yield reporting covenant and the rationale behind it.
Reporting covenants require...
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