"exempt bond indentures
from section 316(b) if they (1) provide for
corporate bond indentures
during the late nineteenth and early twentieth century commonly specified important aspects of bond issues, including:
The contractual feature of whether or not the bond indenture
has an explicit restriction is quantified by using an indicator variable: 1 for explicit restriction and 0 for implicit (i.e.
We then examine the differences between covenants typically included in private loan agreements and in public bond indentures
and the related differences between the way private lenders and public bondholders behave after credit has been extended.
A recent innovation in the issuance of corporate debt is the inclusion in bond indentures
of event risk protection language (or "poison puts").
Other covenants inserted in bond indentures
can have a significant anti-takeover effect.
Each of the participants has executed transmission service contracts with SCPPA that govern the obligations of the project participants in addition to the bond indentures
. Participants are required to pay operating and fixed (including debt) costs of the project as outlined by an annual budget prepared by SCPPA.
In particular, he notes the ebb and flow of "covenant-lite" bond indentures
over the past several decades.
The sale of Blackstone's 50% interest in Universal Orlando to NBCU will not constitute a change of control under Universal Orlando's credit facility or bond indentures
. Moody's believes NBCU will be motivated to retire the debt as its cost of capital is lower.
The bond indentures
prohibit the firm from selling assets.
--Covenant Review is the trusted source for the interpretation of corporate bond indentures
and leveraged loan credit agreements.