The Modern Role of Bond Covenants
Author: Ileen Malitz
Publisher: Wiley
Published: 1991-01-15
Total Pages: 53
ISBN-13: 9780943205229
DOWNLOAD EBOOKBond covenants-designed to control conflicts of interest between shareholders and bondholders-are important because lack of adequate protection can erode bondholder value. This monograph investigates whether existing covenants are adequate or whether they have lost value as a result of factors that assumed prominence during the leveraged-buyout era.