Motivations for issuing puttable debt: An empirical analysis

摘要: This paper examines the motivations for issuing putable bonds in which the embedded put option is not contingent upon a company-related event. We findWe would like to thank Sanjay Deshmukh and conference participants at the Seattle FMA meetings, October 2000, for helpful comments on an earlier version of the paper circulated under a different title. The views expressed in this paper are strictly that of the authors and not of the OCC or the Comptroller of the Currency.