exchange offer
   HOME

TheInfoList



OR:

An exchange offer in
finance Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of Production (economics), production, Distribution (economics), distribution, and Consumption (economics) ...
, corporate law and
securities law Securities regulation in the United States is the field of U.S. law that covers transactions and other dealings with securities A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its le ...
, is a form of
tender offer In corporate finance Corporate finance is the area of finance that deals with the sources of funding, the capital structure of corporations, the actions that managers take to increase the Value investing, value of the firm to the shareholders, ...
in which
securities A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any for ...
are offered as consideration instead of cash. In a bond exchange offer, bondholders may consensually exchange their existing bonds for another class of
debt Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase. The de ...
or equity securities. Companies will often seek to exchange their securities to extend maturities, reduce debt outstanding or convert debt into equity.


See also

*
Financing Funding is the act of providing resources to finance a need, program, or project. While this is usually in the form of money, it can also take the form of effort or time from an organization or company. Generally, this word is used when a firm us ...
*
Tender offer In corporate finance Corporate finance is the area of finance that deals with the sources of funding, the capital structure of corporations, the actions that managers take to increase the Value investing, value of the firm to the shareholders, ...


References

Bond market {{econ-stub he:הצעת רכש#הצעת רכש חליפין