poison put
n.— «In December 1995, following several quarters of weak sales, Kmart Corp. came on the brink of a bankruptcy filing: Their problems stemmed from the possible exercise of $550 million of poison put bonds outstanding, which allowed holders to sell back, or “put” the notes back to the retailer, if the rating on the company’s senior debt—as determined by either Standard and Poor’s or Moody’s—fell below investment grade.» —“Alexander David” Pricing the Strategic Value of Poison Put Bonds Nov., 1997. (source: Double-Tongued Dictionary)
Further reading
Quiz Guy John Chaneski is back with another Common Bonds game, in which the object is to figure out what one word links a trio of ideas. For example, what one word unites the following three things? A report card, USDA inspected beef, and an incline...
Quiz Guy John Chaneski’s puzzle challenges you to spot the missing links between words. For example, what do the following three names have in common? Jefferson, Franklin, Washington. This is part of a complete episode. Transcript of “Quiz: Find the...