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Describe a debt overhang problem and discuss why the problem can be alleviated if senior debtholders and equityholders renegotiate the term of bond contracts (e.g.,
Describe a debt overhang problem and discuss why the problem can be alleviated if senior debtholders and equityholders renegotiate the term of bond contracts (e.g., seniority of the debt-in-place).
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