Private Bond Restructurings: Lessons for the Case of Sovereign Debtors
Summary:
This paper reviews recent experience with both sovereign and private bond restructurings. It also summarizes the literature on private bond restructurings and describes the “typical” process for a voluntary exchange of new bonds for existing obligations. From this information some conclusions are drawn as to the possibility of concluding voluntary restructuring agreements for sovereign bonds within relatively short periods of time.
Series:
Working Paper No. 1996/011
Subject:
Asset and liability management Bonds Common stocks Corporate bonds Debt restructuring Financial institutions Sovereign bonds
English
Publication Date:
February 1, 1996
ISBN/ISSN:
9781451926064/1018-5941
Stock No:
WPIEA0111996
Pages:
16
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