After close to a breach of its loan covenants in 2009, Momentive adopted various measures in the months to restructure its debt. In particular, in May 2009, Momentive exchanged part of its obligations under the bonds. In November 2009, it has proposed amendments that seek to extend the maturity of the loan used to finance the purchase and Momentive will issue senior secured notes. The case created from the point of view of the hedge fund, which holds a share of a syndicated loan of Momentive. The case serves as a tool to discuss the contractual differences between public and private debt and problems in its restructuring. "Hide
Ivashina to Victoria, David S. Scharfstein Source: Harvard Business School 10 pages. Publication Date: June 2, 2010. Prod. #: 210081-PDF-ENG
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