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Tim Howell and Alex Petrossian Publish “Financial Definitions in High-Yield Indentures” in The Lexis Practice Advisor Journal

Date: 01/22/20

In this article in The Lexis Practice Advisor Journal, partner Tim Howell and associate Alex Petrossian introduce a few key financial definitions found in high-yield indentures, with a focus on how they are derived from the income statement and used in the negative covenants. They also flag certain items within the financial definitions that company and underwriter’s counsel often focus on as they review and negotiate the negative covenants in the typical high-yield indenture and also discuss generally accepted accounting principles (GAAP) and the manner in which high-yield indentures typically regulate the issuer’s accounting principles.

Financial Definitions in High-Yield Indentures - LPA Journal.pdf (pdf | 1.38 MB )