Sentences with phrase «pik toggle»
PIK Toggle was a recent one, covenant - lite is another.
http://www.legalweek.com/
With names like Covenant - Lite and PIK toggle, these debt instruments are designed to help companies by suspending cash payments when times get tough and are being sold to hedge funds which book profits now.
As for PIK toggle bonds, securities underwriting is not all that much different from insurance underwriting.
The simple dynamics of supply and demand manifested themselves, and over time lending standards have loosened, and some of the troublesome practices of years ago, such as PIK toggles, have made a comeback.
Not exact matches
The willingness of lenders to take risk was declining, particularly on PIK bonds and Toggle notes.