STRESSED DEBT COVERAGE: The debt refunding
transaction will give Wilson cash flow relief in the near term to execute its strategic plan, which does not project 1x MADS coverage until at least fiscal 2020.
The Ministry of Finance says that issuing long-term securities reduces the risk of public debt refunding
and explains that it is a sign that showcases the investors' trust in Macedonia's economy.
The debt refunding
deal cannot be signed as so far only 87.6% of the creditors have reached an agreement with the company.
The notes, due 30 April 2015, are guaranteed by LK, with proceeds from the offering to be used for debt refunding
In this paper, we examine the tax benefits of several debt refunding
mechanisms to be used by firms to refund their debt following a decline in the yield of their bonds.