Toggle debt securities and interest-supplementary securities (toggle notes)

Securities – usually bonds – where the issuer has the choice either to pay cash interest or to issue new bonds in its place. It is like a payement-in-kind note with an option to pay cash interest, and these notes are often used to finance big leveraged buy-outs). – See leveraged buy-out, payment-in-kind loan, second lien loan.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/