medium · Debt Capital Markets bond-instruments-structures
A B2/B-rated issuer executes a 35% equity clawback on its 8.50% high-yield notes during the third year of a five-year non-call period.
Under standard market practice, at what price is this redemption most likely to occur?
- 108.50%
- 104.25%
- 101.00%
- 100.00%
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