Title:

ResCap Exchange Offer: Living To Fight Another Day (at Bondholder Expense)

Price:$150.00
Publication Date:May 02, 2008
Source:CreditSights Inc
Report Type:Article
Abstract:A coercive tender gives bondholders the right to extend or face the more immediate consequences. Extension is the better part of valor for bondholders and lets ResCap keep the hope alive.
Brief Excerpt: ResCap Exchange Offer: Living To Fight Another Day (at Bondholder Expense) ResCap announced plans for private exchange offers and limited cash tender offers encompassing about $## billion of outstanding debt If successful (majority...
Word Count:3198
Report Type:Article
Topic:High Yield
Format:HTML HTML
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CreditSights is an independent research platform comprised of a team of analysts with both buy-side and sell-side experience in the U.S. and overseas. CreditSights' research focuses on global corporate and sovereign issuers, which have securities that are actively traded in the corporate bond, credit derivatives and/or equity-linked markets. Sector coverage is broad-based and includes telecom, technology, and media; autos and general industrials; utilities and energy; financial services; commodity cyclicals; retail and consumer products; and aerospace and defense. Emerging markets coverage includes the major Latin American, Asian and Eastern European countries. The focus of CreditSights research is to help investors make decisions by distilling and interpreting significant developments and specific events affecting individual companies, industries, or the securities markets as a whole.

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