Debt-for-equity swaps are the financial equivalent of the childhood pastime of collecting and trading sports cards – creditors and a corporate debtor swap IOUs for new common shares. Except it’s a little more involved than haggling over a piece of cardboard with the face of a famous sports person on it.
China joins the latest fad in corporate restructuring
Having emerged in the US, numerous other countries are now encouraging debt-for-equity swaps.
