Debt Capital Markets · glossary
A change at the heart of the deal, such as to a payment date, an amount due or the currency. A meeting on one needs holders of 75 per cent of the Notes present, or 25 per cent if adjourned. Moving the maturity date even slightly is one. Condition 12.1, “Reserved Matter” · Chapter 6 · see Extraordinary Resolution
Explained in Chapter 6, Fiscal Agent or Trustee, and Noteholder Meetings, of Debt Capital Markets.
Some changes go to the heart of the deal, so Condition 12.1 sets a higher quorum for them. It calls them Reserved Matters…Read Chapter 6, Fiscal Agent or Trustee, and Noteholder Meetings →
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any proposal to change any date for payment on the Notes, to reduce or cancel any amount payable on them, to change the currency of payment, to change the majority needed to pass an Extraordinary Resolution or the quorum of any meeting, or to amend this definition.Read the definition in the document →
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