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Some bonds have additional protective covenants attached to the indenture. (An example might be that the bond can be redeemed at the option of the
Some bonds have additional
protective
covenants attached to the indenture.
(An example might
be that the bond can be redeemed at the option of the holder in the event of a merger.)
Would
the presence of
such
additional covenants likely affect the YTM of a bond
(as compared to an
otherwise equivalent bond without the covenants)
? If so how?
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