A Feature in the High Yield Market That Allows the Issuer

question 23

Multiple Choice

A feature in the high yield market that allows the issuer to pay interest in the form of additional notes is called a:

• A)Bridge loan
• B)First lien
• C)PIK
• D)Term B loan

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Definitions:

Unless

Unless is a conjunction used to introduce a conditional clause, specifying an exception or a circumstance under which a statement does not apply.

Valid Inference

A logical conclusion drawn from premises that are accepted as true, ensuring the conclusion necessarily follows from them.

Copernicus

A Renaissance mathematician and astronomer who formulated a model of the universe that placed the Sun rather than the Earth at its center.