The 10%/12% cash/PIK toggle bonds — PIK stands for payment-in-kind — offer an issuer the ability to defer interest payments in return for a higher coupon later. Based on the aggregate ...

Chelsea's owners have borrowed more than £1bn through a revolving credit facility and a redeemable preferred equity agreement ...

Ardagh Group S.A. ("AGSA" or the "Company") announced that it is engaging in negotiations with certain holders of its Senior ...

What PIK does is it each month increases the total outstanding debt amount that a company (borrower) will have to repay upon the maturity. Usually, it is not about receiving cash for some time ...