This chapter explores the concept of bond redemptions and discusses the case study of Six Flags. It explains how a change of control can trigger a redemption and discusses the investment opportunities it provides for bondholders.
On this week’s podcast we replay our Covenants 101 webinar where Peter Washkowitz, head of our Americas Covenants team, discussed redemptions and the primary market as well as call protection, Dutch auctions and open market purchases of term loans, make whole payments, equity clawbacks and redemptions of high-yield bonds, change of control under bank debt and bonds and Covenant analysis for primary investors.
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