Tag:
Pik Toggle
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Latest Headlines
Carl Icahn loses by winning
We've noted that Carl Icahn--who is none too pleased with how his Realogy PIK toggle bonds were being treated--sued to stop Realogy, controlled by Apollo, from issuing more bonds that would be more secure, but worth far less.
The New York Times reports that Icahn won his suit. But it also
Fancy footwork from more private equity funds
We noted recently that private equity firm Apollo has been among the most active beneficiaries of PIK toggle features in bond issues. Which basically allow portfolio companies to pay interest with more debt. The Financial Times reports that Apollo is also benefiting from so-called "accordi
