What are the various provisions within a bond indenture that are designed to protect bondholders by restricting the actions of the issuer called: protective covenants.
Protective covenant refers to a clause or legal term in a contract or other legal document where one party promises to do a specific action, is prohibited from taking a certain action, or otherwise has responsibilities to safeguard the interest of another party.
Protective covenants are a clause in a contract that restricts the company's ability to engage in specific financial transactions.
The agreement relating to a bond is known as a bond indenture. A bond indenture's conditions detail the bond's attributes, any limitations put on the issuer, and the consequences of the issuer failing to make payments on time.
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