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Debt Finance (Instrument (bonds or debentures (public and secured,…
Debt Finance
Instrument
term loans
bonds or debentures
public and secured
regulated
trust deed and trustee
Unsecured Notes (risk)
Zero Coupon Bond
no interest
Junk Bonds (high interest)
Convertibles: can convert to equity
Subordinated Debt
Security (reduce risk)
Mortgage
Specific charge
Guarantees
Restrictive covenants
Terms
long term or short term
debt match asset term category
Factors
source
risks
interest rate
liquidity/repayment
currency (foreign debt)