Showing 1 - 10 of 674,157
Persistent link: https://www.econbiz.de/10002118470
Persistent link: https://www.econbiz.de/10001925490
Creditors, though, are not regarded as the members of a company, yet the role they play in maintaining a company cannot … virtue of lending money by the creditors to the company, the company becomes debtor to the creditor and hence is under an … obligation to take proper care of the interest of the creditors. Previously, there were no such enactments that provide relief to …
Persistent link: https://www.econbiz.de/10013073091
Persistent link: https://www.econbiz.de/10003752932
Persistent link: https://www.econbiz.de/10003611637
Persistent link: https://www.econbiz.de/10010239629
Persistent link: https://www.econbiz.de/10001593880
I propose a theoretical framework in which lenders may suffer repayment preference shocks that encourage early and costly termination of a loan contract. Covenant-lite loans limit the circumstances in which lenders can withdraw or renegotiate credit agreements, and thus insulate lenders from...
Persistent link: https://www.econbiz.de/10014238301
Persistent link: https://www.econbiz.de/10003741854
This paper studies the effect of senior lender control, as measured by bank loan covenants, on the pricing of new bond issues. We find a U-shaped relation between the number of financial covenants on a firm's loan contract and the bond yield spread. Our results suggest that bondholders initially...
Persistent link: https://www.econbiz.de/10012855332