Bridge over ocean
1 January 1994 Research Foundation

The Modern Role of Bond Covenants

  1. Ileen B. Malitz
The Modern Role of Bond Covenants View the full book (PDF)

Bond 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 they have lost value as a result of factors that assumed prominence during leveraged-buyout era.

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