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One option to get Outback out of their covenant violations was buy back some of their publicly-trade (junk) bonds at much less than 100%.
One option to get Outback out of their covenant violations was buy back some of their publicly-trade ("junk") bonds at much less than 100%. Assuming they bought the maximum they would be allowed to buy based on their agreement with the banks, how many dollars face amount of bonds could they buy if they could be purchased at 26.0% of par? Format $123.4 as 123
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Let x the dollar face amount of bonds that can be b...
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
