"If the [bond] exchange goes through, it will still be considered a default."

© 2026 GlobalCapital, Derivia Intelligence Limited, company number 15235970, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian group. All rights reserved.

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement | Event Participant Terms & Conditions

Cookies Settings

"If the [bond] exchange goes through, it will still be considered a default."

November 07, 2008 12:00 am

Ken Emery, director of corporate default for Moody's Investors Service, regarding Metaldyne's attempt to buy back its bonds at distressed rates.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Request demo or Login
  • ✔ 4,000 annual insights
  • ✔ 700+ notes and long-form analyses
  • ✔ 4 capital markets databases
  • ✔ Daily newsletters across markets and asset classes
  • ✔ 2 weekly podcasts

Related articles

  • france-large.png

    The Mumble: Vive la différence

    French regions may find themselves under pressure to raise funding as the central government looks to save cash by reducing transfers to regional and local authorities by €11bn between 2014 and 2017. Fortunately help is at hand in the guise of a brand new issuer: Agence France Locale, which should — by agglomerating regional funding needs — be able to offer smaller regions cheaper financing than they would be able to obtain in the open market. But there are a lot more factors than just cost to consider.
    May 30, 2014
  • europe-icon-v3-large.png

    European parliamentary elections: still got “whatever it takes”?

    Investors’ renewed confidence in the eurozone is very much a matter of trust that the currency bloc’s leaders will never let the project fail. But with anti-European Union parties looking set to perform well in this week’s European Parliament elections, how will investors respond?
    May 23, 2014

  • Of Ice and MTNs

    The build up to Íslandsbanki’s annual Thorrablot celebrations — for the uninitiated, it’s an Icelandic midwinter festival — is always fraught with nerves, anticipation and a slightly sickly feeling at the prospect of crunching down on goats’ testicles. But this year’s shindig on Thursday night has some added spice — or, more appropriately, pickle — as it could be the last event ever.
    Craig McGlashan, February 28, 2014

  • GE's sukuk debut should not deter corporate supply

    When General Electric issued a debut $500m sukuk five years ago it did not receive a great deal of acclaim. But with the company considering another potential Islamic deal later this year, neither it nor other rumoured Western first time borrowers such as Total should fear for a bad result this time around.
    February 28, 2014

  • MTNs: BNP Paribas in pole on three tables

    Dealers of private EMTNs: Non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers, self-led deals and issues with a term of < 365 days Dealers of private EMTNs including self-led: Non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers and issues with a term of < 365 days Dealers of structured EMTNs excluding self-led: Structured, non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers, puttable FRNs and issues with a term of < 365 days
    Dariush Hessami, January 23, 2014

  • MTNs: BNP Paribas moves into early lead

    Dealers of private EMTNs: Non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers, self-led deals and issues with a term of < 365 days Dealers of private EMTNs including self-led: Non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers and issues with a term of < 365 days Dealers of structured EMTNs including self-led: Structured, non-syndicated deals for <= €300m excluding financial repackaged SPVs, GSE issuers, puttable FRNs and issues with a term of < 365 days
    Dariush Hessami, January 16, 2014
Gift this article