Exact(9)
That means that if Lucent melted down, holders of the new credit line would have a claim on Lucent's assets before holders of its older debt.
The goal is to ensure that debt collectors are pursuing those who actually owe the debt, that they aren't harassing debtors, and that they abide by statutes of limitations barring them from trying to collect on older debt.
Treasury officials have discussed issuing new debt to fund purchases of older debt, but they would do so because newer securities are easier for investors to buy and sell.
Not only are they perfectly positioned to capture coverage for new municipal bonds, they can also profit by re-insuring older debt.
What Milken and the other junkies tended to ignore was that this older debt was entirely different from the junk issues they put out in the late Seventies and Eighties.
Everyone with older debt was left out in the cold, mulling over minor changes that were miniscule or mere window-dressing.
Similar(51)
All the old debt was left at the International Bank.
And many of those are mostly refinancing old debt.
But she's still saddled with about $145,000 in old debt.
Unlike the UK, there is no proposal in Australia to have a moratorium on old debt.
The county owes millions of dollars in interest on old debt.
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