Debt Buy backs by Borrowers for Pennies on the $1
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Debt Buy backs by Borrowers for Pennies on the Dollar:
Can borrowers buy back their own debt? This apparently simple question has been troubling loan market practitioners over the past few weeks following the high proﬁ:le purchase Danish telecoms operator TDC (owned by KKR and Apax) of 200 million of its senior debt, something which has, apparently, caused the Loan Market Association‘ to review its standard form documentation to see whether transfer provisions need to be "clariﬁ:ed" in relation to this issue. We analyze and consider the issues.
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