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Clifford Chance

Clifford Chance


Margin Bonds: Maximizing the Minority

6 February 2014

Private equity firms are increasingly tapping into the global high yield market to finance their investments and investors have now been able to access high yield "margin bond" financing to acquire minority interests and fund joint venture investments. Such investments have historically been financed through margin loans or direct equity contributions, but now margin bonds may provide an innovative financing solution for investors seeking external finance for a minority acquisition in either a publicly listed or private company, as well as other types of investment.

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