medium · Debt Capital Markets
A borrower 'Asset Swaps' a warehouse in Chicago for a distribution center in Dallas of equal value.
Does this typically trigger a mandatory Asset Sale Offer?
- Yes, because any movement of assets is a sale
- No, but only if the bondholders give written consent for the swap
- Yes, because the locations are in different states
- No, provided the exchange is for 'Replacement Assets' of equivalent Fair Market Value
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