Barclays Deck
What is call protection on a high-yield bond, why does it exist, and why don't leveraged loans have it?
Model answer
Call protection restricts the issuer from redeeming a bond early: a typical high-yield structure is non-callable for the first stretch of its life (in market shorthand, a '7NC3' is a seven-year bond…
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More from Barclays Deck
- When was Barclays founded, and what were its origins?
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