35:
208:
Although the
Delaware court did not allow Realogy to pursue its proposed refinancing structure and there is always a risk of litigation where one group of creditors may be adversely affected by a proposed transaction, the court’s reasoning may actually facilitate debt exchange offers by companies.
187:
Because the new term loans were to be secured by second liens under the credit facility, the proposed exchange offer would have allowed the "Senior Fixed Notes" to effectively become senior to the "Senior Toggle Notes" and the "Senior
Subordinated Notes" to "leapfrog" in priority over the Senior
199:
The court observed that an interpretation of the exclusion to the definition of "Permitted
Refinancing Indebtedness" that required nothing more than compliance with the covenants would add no substance to the definition. The exclusion would then be "mere surplusage."
179:
had several outstanding debts and sought to refinance many of its debt notes by offering to exchange the notes for term loans under a new $ 500 million term loan facility. The new term loans would be issued under the
260:
111:
301:
191:
The trustee under the indenture sued
Realogy on behalf of holders of the Senior Toggle Notes, arguing that the exchange offer breached the indenture.
83:
286:
90:
59:
of the topic and provide significant coverage of it beyond a mere trivial mention. If notability cannot be shown, the article is likely to be
97:
160:
exchange offer was not permissible under the terms of the documents governing the company's debt. The case is frequently referenced in
79:
130:
291:
56:
104:
52:
296:
68:
17:
224:
Bank of New York Mellon v. Realogy
Corporation, 2008 WL 5259732 (Del. Ch. Unpublished Memorandum Opinion)
45:
176:
64:
153:
60:
181:
280:
161:
165:
184:
and would be secured by a second lien on almost all of
Realogy's assets.
149:
51:
Please help to demonstrate the notability of the topic by citing
157:
28:
156:in 2008. The court held that a company's proposed
148:, 2008 WL 5259732, is a case that was decided in
145:Bank of New York Mellon v. Realogy Corporation
18:Bank of New York Mellon v. Realogy Corporation
8:
80:"Bank of New York Mellon v. Realogy Corp."
131:Learn how and when to remove this message
246:Stephen M. Bainbridge, Klein, Ramseyer,
233:Stephen M. Bainbridge, Klein, Ramseyer,
217:
7:
250:, 8th Ed. (Foundation Press), 871.
237:, 8th Ed. (Foundation Press), 871.
25:
302:United States corporate case law
33:
287:2008 in United States case law
1:
46:general notability guideline
318:
53:reliable secondary sources
42:The topic of this article
44:may not meet Knowledge's
292:Delaware state case law
164:and is used in several
248:Business Associations
235:Business Associations
177:Realogy Corporation
48:
154:Court of Chancery
141:
140:
133:
115:
43:
16:(Redirected from
309:
297:2008 in Delaware
272:
271:
268:www.jonesday.com
265:
257:
251:
244:
238:
231:
225:
222:
136:
129:
125:
122:
116:
114:
73:
37:
36:
29:
21:
317:
316:
312:
311:
310:
308:
307:
306:
277:
276:
275:
263:
259:
258:
254:
245:
241:
232:
228:
223:
219:
215:
206:
197:
182:credit facility
174:
137:
126:
120:
117:
74:
72:
50:
38:
34:
23:
22:
15:
12:
11:
5:
315:
313:
305:
304:
299:
294:
289:
279:
278:
274:
273:
252:
239:
226:
216:
214:
211:
205:
202:
196:
193:
188:Toggle Notes.
173:
170:
139:
138:
41:
39:
32:
24:
14:
13:
10:
9:
6:
4:
3:
2:
314:
303:
300:
298:
295:
293:
290:
288:
285:
284:
282:
269:
262:
261:"Publication"
256:
253:
249:
243:
240:
236:
230:
227:
221:
218:
212:
210:
203:
201:
194:
192:
189:
185:
183:
178:
171:
169:
167:
163:
159:
155:
151:
147:
146:
135:
132:
124:
121:February 2014
113:
110:
106:
103:
99:
96:
92:
89:
85:
82: –
81:
77:
76:Find sources:
70:
66:
62:
58:
54:
47:
40:
31:
30:
27:
19:
267:
255:
247:
242:
234:
229:
220:
207:
198:
190:
186:
175:
168:case books.
144:
143:
142:
127:
118:
108:
101:
94:
87:
75:
26:
162:banking law
57:independent
281:Categories
213:References
166:law school
91:newspapers
65:redirected
55:that are
150:Delaware
195:Opinion
105:scholar
69:deleted
204:Impact
107:
100:
93:
86:
78:
61:merged
264:(PDF)
172:Facts
112:JSTOR
98:books
67:, or
158:debt
84:news
152:'s
283::
266:.
63:,
270:.
134:)
128:(
123:)
119:(
109:·
102:·
95:·
88:·
71:.
49:.
20:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.