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If a firm issues debt and includes protective covenants in the indenture, then the debt will probably be issued at similar debt without the covenants.

If a firm issues debt and includes protective covenants in the indenture, then the
debt will probably be issued at
similar debt without the covenants.
a variable interest rate rather than the fixed rate paid on
a lower interest rate than
a higher interest rate than
an interest rate equal to that of
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