Essays about: "Bond Covenants"

Found 5 essays containing the words Bond Covenants.

  1. 1. On Bond Provisions and M&A Activity

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Johan Rudengren; Lucas Johnson; [2022]
    Keywords : Callable Bonds; Bond Covenants; M A; Acquisition Premium; Debt Overhang;

    Abstract : The share of bonds issued with a call provision has increased during the last 20 years. We find that companies with callable bond debt are more likely to become takeover targets. READ MORE

  3. 2. Yield Spreads and Covenants : is there a negative relationship?

    University essay from Uppsala universitet/Företagsekonomiska institutionen

    Author : Gustaf Ågren; Isak Roth; [2015]
    Keywords : covenants; yield spread; bondholder-stockholder conflict; Swedish bond market; Z-score;

    Abstract : Research concerning covenants has at large not examined what quantifiable relationship covenants have with yield spreads. We shed light on this topic as we evaluate Swedish bond indentures. READ MORE

  4. 3. Covenants in loan agreements—an analysis of practices within the Swedish high-yield bond sector

    University essay from Lunds universitet/Juridiska institutionen

    Author : Fredrik Fors; [2013]
    Keywords : Avtalsrätt; associationsrätt; förmögenhetsrätt.; Law and Political Science;

    Abstract : A high-yield bond is a financing option for a non-investment grade corporation, enabling it to raise funds on the capital market. In light of harsher conditions for senior financing, the development of a liquid high-yield market for bonds may prove a necessary way forward to ensure global competitiveness for Swedish small and medium-sized enterprises (“SMEs”) that typically relies heavily on bilateral- and syndicated bank loans. READ MORE

  5. 4. The Bondholder-Stockholder Conflict: The Relation between Debt Covenants and Bond Spreads

    University essay from Företagsekonomiska institutionen

    Author : Martin Stolt; Tim Högnelid; [2012]
    Keywords : bondholder-stockholder conflict; covenants; Z’-score; corporate debt; Norwegian bond market;

    Abstract : Prior research on covenants show that they are frequently included in corporate debt agreements as means of mitigating bondholder-stockholder conflicts. As covenants should be more frequently included when there is a higher degree of bondholder-stockholder conflict, what is then the relation between covenants and spread? Our results show that on the Norwegian corporate debt market, bonds that include covenants have a higher spread than those that do not. READ MORE

  6. 5. Corporate Bonds - An Emerging Source of Financing for Swedish Real Estate Companies

    University essay from KTH/Fastigheter och byggande

    Author : Herman Donner; Victor Svensk; [2012]
    Keywords : ;

    Abstract : Banks have become increasingly restrictive in their lending towards commercial real estate, a development that is expected to increase due to new regulations. This has caused Swedish companies, amongst them several real estate companies, to obtain financing through the capital markets. READ MORE