This article examines the determinants of the mix of private and public debt using detailed information on the debt structure of 250 publicly traded corporations from 1980 through 1990. The authors find that the relationship between bank borrowing and the importance of growth opportunities...

This article examines the relation between bank debt forgiveness and the structure of public debt exchange offers in financial distress. The author finds that the structure of exchange offers and the likelihood of an offer's success are significantly related to whether the bank participates in...