Voluntary Choices in Concerted Deals: Mechanics and Attributes of the Menu Approach, Issue 527
Ishac Diwan · Kenneth Kletzer
Jan 1990 · Policy, research, and external affairs working papers Book 527 · World Bank Publications
Ebook
28
Pages
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When lenders participate voluntarily in a buyback of debt claims, both the price paid for repurchased claims and the secondary market price of the remaining debt rise-- so all creditors realize a net benefit. In contrast, the menu approach to debt reduction allows the debtor to reduce its debt at cheaper prices.
When lenders participate voluntarily in a buyback of debt claims, both the price paid for repurchased claims and the secondary market price of the remaining debt rise-- so all creditors realize a net benefit. In contrast, the menu approach to debt reduction allows the debtor to reduce its debt at...
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