Debt Capital Markets · glossary
What triggers the change of control put. Two things must both happen: someone outside the founding family gains control of Valkenrade, and within 120 days the Notes lose their investment-grade rating. A takeover alone, or a downgrade alone, gives holders nothing. Condition 6.5, “Put Event” · Chapter 4 · see Change of control put, Investment grade
Explained in Chapter 4, Redemption: Maturity, Early Calls and the Change of Control Put, of Debt Capital Markets.
A Put Event needs two things to happen…Read Chapter 4, Redemption: Maturity, Early Calls and the Change of Control Put →
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a Change of Control occurs and, within the Change of Control Period, the Notes cease to have an Investment Grade Rating from the Rating Agency because their rating is lowered or withdrawn; andRead the definition in the document →
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