Glossary
Distressed Debt
Bonds trading at a price low enough that their yield is roughly 10 percentage points above Treasuries, typically below about 80 cents on the dollar: the market is pricing a real chance the borrower will not repay in full.
Glossary
Bonds trading at a price low enough that their yield is roughly 10 percentage points above Treasuries, typically below about 80 cents on the dollar: the market is pricing a real chance the borrower will not repay in full.