Section 3(a)(9) Exchange Offers


Many issuers are now focused on liability management transactions as part of a new and increased effort to restructure and strengthen their balance sheets in light of the recent financial crisis. Financial institutions also are engaging in liability management transactions in order to meet Tier 1 and other capital requirements. In addition, debtors and creditors recently have been more receptive to pursuing voluntary, out-of-court restructurings as an alternative to bankruptcy. Liability management is attractive for many issuers as there are a wide array of transactions and restructuring options available for issuers, including redemptions, repurchases, debt tenders, private exchange offers, Section 3(a)(9) exchange offers, registered exchange offers, debt for equity swaps, equity for equity exchanges, and consent solicitations.1

Please see full bulletin for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Morrison & Foerster LLP | Attorney Advertising

Written by:


Morrison & Foerster LLP on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.