adjustment bond meaning
A bond issued in exchange for existing bonds when a business in financial difficulties is being restructured.
A bond issued in exchange for outstanding bonds when a corporation facing bankruptcy is recapitalized.
- And the rest of what was owed, $ 51 . 7 million, was put into a security called an adjustment bond.
- The bonds rose in value until 1931, when the adjustment bond almost sold for its full $ 1, 000 face value.