Investments
Aug. 30, 2006
Companies Can Protect Against Lenders' Deadly Intentions
Colloquially called "floorless convertibles," "toxic convertibles," "junk equity" or "death spiral convertibles," these terms should evince fear in shareholders, as they signal convertible debentures which often drive public companies to bankruptcy. After almost disappearing years ago, now they are seeing a dramatic comeback.
By Luan K. Phan
Colloquially called "floorless convertibles," "toxic convertibles," "junk equity" or "death spiral convertibles," these terms should evince fear in shareholders, as they signal convertible debentures which often drive public companies to bankruptcy. After almost disappearing years ago, now they are seeing a dramatic comeback.
Death spiral financings led to the demise of m...
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