High-Yield-Bond Covenants - Asia: Conflicts Over Make-Whole Premiums Are Unlikely to Reach Asia
CORPORATES SECTOR IN-DEPTH 22 February 2017 TABLE OF CONTENTS Asian bonds are unlikely to feature the “no premium on default†clause 2 Multiple reasons limit likelihood of clause being included in Asian bond deals 2 “Equivalent premium†clause creates uncertainties for investors but is also unlikely to reach Asia 4 Appendix: High-Yield Bonds That Include the “No Premium on Default†Clause 6 Moody
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