RT Journal Article
SR Electronic
T1 Maximizing Bondholder Participation in Financial Restructurings
JF Turnaround Management
FD Institutional Investor Journals
SP 96
OP 102
VO 2003
IS 1
A1 John Baxter
A1 Colin Robinson
YR 2003
UL http://guides.pm-research.com/content/2003/1/96.abstract
AB It is commonly assumed that the process of soliciting and communicating with bondholders during a financial restructuring is a relatively simple matter, akin to conducting a proxy vote among shareholders. In reality, though, bonds issued electronically in book-entry form are linked to the decision-making, ”beneficial owner” investor through an often confusing, custodial hierarchy that includes depositories, brokers, and banks. In order to reach enough of these investors to ensure a successful outcome to the contemplated transaction, a full-service investor communications firm with the requisite resources and experience must be employed.