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Category Archives: Financing Structures

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Court Rules on Applicability of Make-Whole Premiums Upon Debt Acceleration

Posted in Bankruptcy, Financing Structures

BY LEN WEISER-VARON The linked Mintz Levin client advisory, which discusses a recent bankruptcy court ruling regarding the applicability of a make-whole premium upon a refinancing of corporate debt following such debt’s automatic acceleration upon bankruptcy under the terms of the governing documents, may also be of interest to holders of municipal bonds with call… Continue Reading

Valuing Advance Refundings

Posted in Financing Structures

Advance refundings may be an appropriate target for the semi-jocund question, “sure it works in practice… but does it work in theory?”  A recent study of approximately 150,000 transactions which concluded that advance refundings “destroy value” is reviewed and critiqued in the following commentary featured in The Bond Buyer.  http://www.bondbuyer.com/issues/122_155/commentary-valuing-advance-refundings-1054558-1.html