Hi guys, as far as i know DCM people are involved in issuance of new debt, refinancing debt, or restructuring debt.
In ECM, they have IPO roadshows for marketing purposes, but I was wondering about debt, do they have a similar mechanism to announce the issuance of new debt?
For refinancing debt, does this mean that the company calls back the previous bonds (if its a callable bond), when interest rates are low, and reissue them for a cheaper price? Or is there more to this?
For restructuring debt, is this just dealing with bond covenants and exchange offers?
Thank you very much for your time!
Roadshows are also to determine price. Debt is much easier to value
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