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flemingpk flemingpk
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A month ago
The Winnipeg Curling Company currently has one issue of debt outstanding. Winnipeg Curling has decided to borrow more money by issuing new debt with a higher priority in the event of bankruptcy. This could result in a violation of which type of covenant on the original debt?

▸ cross-default clause

▸ negative pledge

▸ The new issue will not violate any covenant as there are never covenants when a firm has only one issue of debt.

▸ This type of transaction is illegal.
Textbook 
Corporate Finance

Corporate Finance


Edition: 5th
Author:
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Chintan13Chintan13
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A month ago
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