UNDERSTANDING HIGH-YIELD BONDS A complete guide for investors, issuers, banks and advisers HYB cover blue 90% AI 70%.indd 1 26/06/2014 17:29:48 Introduction The following is an excerpt of chapters 6-11 from PEI’s publication Understanding High- Yield Bonds: A complete guide for investors, issuers, banks and advisers. Authored by members of Milbank’s Global Securities high-yield team, Chapters 6–11 are an essential reference guide for all professionals involved in originating, structuring/restructuring, issuing and investing in high-yield bonds, and drafting and negotiating the covenant package. About Milbank, Tweed, Hadley & McCloy is a leading international law firm that has been providing Milbank innovative legal solutions to clients throughout the world for more than 145 years. Milbank is headquartered in New York and has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, São Paulo, Singapore, Tokyo and Washington, DC. The firm’s lawyers provide a full range of legal services to the world’s leading commercial, financial and industrial enterprises, as well as to institutions, individuals and governments. Milbank’s lawyers meet the needs of its clients by offering a highly integrated and collaborative range of services across key practice groups throughout its global network. Milbank’s integrated practice is underpinned by its attorneys’ acknowledged technical excellence, sectorial expertise and a strong tradition of innovation and client service. Key Contacts UNITED STATES To discuss our Rod Miller
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