Question
Our $4,250 million of senior notes were issued under US shelf registration statements. If the Proposed Transaction is completed, a downgrade in the company's credit
Our $4,250 million of senior notes were issued under US shelf registration statements. If the
Proposed Transaction is completed, a downgrade in the company's credit ratings below
investment-grade would trigger a change in control offer under existing debt securities,
except for the notes issued in 2016, and the company would be required to make an offer to
purchase all, or any part, of the senior notes at 101 percent of the $3,750 million outstanding
principal amount of the notes to be repurchased, plus accrued and unpaid interest.
what does this mean?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started