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Definitions of terms begining
with the same letter as "Toogle notes"
:
Toogle notes ((For more see chapter 44 of the Vernimmen))
A debt represented by bonds, where issuers have the choice either to pay cash interest or to issue new bonds instead.
It is like a payement-in-kind note with an option to pay cash interest. These notes are used to help fund the big leveraged buy-outs.
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