Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Thursday, July 5, 2007

Another Bond Offering Cancelled

Underwriters called off a $1.15 billion sale of bonds to pay for the ServiceMaster LBO.  Like other recent debt offerings, investors were unhappy with the payment-in-kind provision, which gives companies the option to make interest payments in additional debt.  See WSJ, ServiceMaster Shelves Bond Offering on Investor Nervousness.

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