Kruse, Timothy; Nohel, Tom; Todd, Steven K. - In: Journal of Applied Corporate Finance 26 (2014) 2, pp. 85-93
type="main" <p>The authors examined the market reaction to announcements of 208 corporate offers to repurchase outstanding debt during the period 1989–1996. In most tender offers, debtholders receive either a fixed price or a fixed spread over a benchmark Treasury security, or a range of prices...</p>