Once again, many issuers are considering liability management alternatives, including open market repurchases, debt-equity swaps, and tender and exchange offers. Recently issued no-action letter relief may provide issuers and their advisers with greater flexibility for tender offers for non-convertible debt securities, including non-investment grade debt securities. We will discuss the conditions for such relief. Also, we will review recent court decisions involving the application of the Trust Indenture Act in the context of liability management transactions.
Our speakers will cover: