In March 2010, Bakrieland Development, an Indonesian property developer, issued $150 million in convertible bonds. The bonds
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In March 2010, Bakrieland Development, an Indonesian property developer, issued $150 million in convertible bonds. The bonds had a 5-year maturity that granted the bondholder to put the bond back to the issuer on the third anniversary at par. The bonds were also callable by the issuer after three years subject to a 130% trigger. What is meant by a “130% trigger”?
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A 130 trigger refers to a condition or threshold that determines when a bond issuer has the option t...View the full answer
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Related Book For 
Introduction To Fixed Income Analytics
ISBN: 9780470572139
2nd Edition
Authors: Steven V. Mann, Frank J. Fabozzi
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