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    Five Business Day Exchange Offers and the ‘Identical in All Material Respects’ Requirement
    2016-07-19

    Market participants involved in distressed exchange offers have become accustomed to grappling with the implications of Trust Indenture Act Section 316(b) in the context of potential exit consents, i.e., are the contemplated amendments to the indenture governing the securities subject to the exchange significant enough to impair or affect the right of a holder to receive payment of principal and interest on or after the due dates of the relevant note?

    Filed under:
    USA, Capital Markets, Insolvency & Restructuring, Kramer Levin Naftalis & Frankel LLP, Bond (finance), Credit (finance), Collateral (finance), Security (finance), Interest, Debt, Maturity (finance), Bond credit rating, Distressed securities
    Authors:
    John Bessonette , Nathan Hyman
    Location:
    USA
    Firm:
    Kramer Levin Naftalis & Frankel LLP

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