Chapter 6 preview
Chapter 6: Corporate Debt
Chapter 6 covers corporate debt instruments: secured bonds (mortgage, collateral trust, equipment trust), unsecured bonds (debentures, subordinated debentures), and money market instruments (commercial paper, bankers' acceptances, negotiable CDs). Convertible bonds carry a lower coupon because the conversion option has value. Know the priority of claims in bankruptcy: secured debt, senior unsecured, subordinated debt, preferred stock, common stock.
Chapter summary
Chapter 6 covers corporate debt instruments: secured bonds (mortgage, collateral trust, equipment trust), unsecured bonds (debentures, subordinated debentures), and money market instruments (commercial paper, bankers' acceptances, negotiable CDs). Convertible bonds carry a lower coupon because the conversion option has value. Know the priority of claims in bankruptcy: secured debt, senior unsecured, subordinated debt, preferred stock, common stock.
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Key concepts
- Types of Corporate Bonds
- Non-U.S. Market Debt
- Money-Market Securities
- Convertible Bonds
- Structured Products
- Types of Corporate Bonds
- Non-U.S. Market Debt
- Money-Market Securities
- Convertible Bonds
- Structured Products
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