medium · Debt Capital Markets
What is the 'Double Trigger' variation of a Change of Control provision?
- A clause that requires two different sponsors to approve the sale before debt is portable.
- A rule where the put price increases from 101 to 102 if leverage is above a certain level.
- A requirement that a change of ownership must also be accompanied by a ratings downgrade to trigger the put.
- A requirement that both the bondholders and the bank lenders must agree to the ownership change.
Sign up free to see the explanation and track your rank →
More Debt Capital Markets practice
- In the context of Debt Capital Markets, what is a leverage-based margin ratchet?
- Which officer of a borrower is typically responsible for signing the compliance certificat
- Why is the Administrative Agent's role important for the margin ratchet?
- If a company has a leverage-based pricing grid and SOFR rises significantly while leverage
- What is meant by the 'bond floor' in the context of yield analysis?
- For a bond trading at a discount (below par), which yield measure is typically the same as
- What is a 'call schedule' for a corporate bond?
- If a bond's Yield to Worst is equal to its Yield to Maturity, what can we likely conclude