Debt Capital Markets · glossary
A group company whose total assets or EBITDA (a measure of operating profit) reach 10 per cent of the group’s or more. The latest audited accounts decide, so the list can change each year. The negative pledge and the events of default reach these companies too. Condition 3.2, “Material Subsidiary” · Chapter 5 · see Negative pledge
Explained in Chapter 5, Negative Pledge and Events of Default, of Debt Capital Markets.
Valkenrade is the group’s holding company. A promise by the parent alone would leave its subsidiaries free to issue secured bonds.Read Chapter 5, Negative Pledge and Events of Default →
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any Subsidiary of the Issuer whose total assets or EBITDA, as shown in its latest financial statements, are 10 per cent. or more of the consolidated total assets or consolidated EBITDA of the Issuer and its Subsidiaries, as shown in the Issuer's latest audited consolidated financial statements;Read the definition in the document →
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