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Article 2017

Ograniczenia transferów do właścicieli w kowenantach obligacji notowanych na rynku Catalyst

Authors / editors: Marek Pauka, Bogumiła Brycz

Published in: Finanse, Rynki Finansowe, Ubezpieczenia

Purpose – This paper focuses on the direct and indirect dividend covenants (as divided by Kalay) embedded in the terms of issues of bonds listed on the Catalyst market. The aim is to analyze the types and structure of covenants limiting transfers to the shareholders and to analyz…

DOI: 10.18276/frfu.2017.86-14 · ISSN: 2450-7741

Article 2016

Kowenanty dywidendowe na rynku obligacji Catalyst

Authors / editors: Marek Pauka, Bogumiła Brycz

Published in: Finanse, Rynki Finansowe, Ubezpieczenia

Purpose – the concept of “empty shell”, described by F. Black, involving the transfer of value by the shareholders from the companies – issuers of bonds fairly well characterizes many difficult cases that could be found on the Catalyst market in the first years of its development…

DOI: 10.18276/frfu.2016.4.82/2-19 · ISSN: 2450-7741