Intermediate
Cash coupons and payment in kind interest
Payment in kind interest increases a claim instead of delivering current cash. A growing balance can coexist with weaker credit and a lower market value.
Read articleFOLITIC / HYBRID SECURITIES
Hybrid Securities Trading Guide
Understand securities that combine features of debt, equity and derivatives. Follow eight stages covering preferred shares, convertibles, corporate hybrids, bank capital and structured notes.
Start with What makes a security a hybrid, then follow the next lesson links. Explore 32 lessons with worked examples, exercises and further reading.
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PIK interest · All lessons
Corporate Hybrids and Capital Structure
Read subordination, payment deferral, extension and issuer funding incentives.