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Soft Call Provision
(redirected from Soft Call Protection)

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Soft Call Provision
In some callable bonds and other fixed income securities, a provision in the indenture stating that the issuer will pay a premium to the face value or market value of the security if it calls it before maturity. Soft call provisions exist to encourage investment in the securities carrying them because they provide a disincentive for early redemption.
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The new facility reduces scheduled amortization to approximately $7 million per year, contains a one-year soft call protection of 1 percent on refinancing but none on other voluntary prepayments, and has the same financial, negative (other than a more favorable ability to repurchase other indebtedness) and affirmative covenants and events of default as the existing facility.
Spectrum Brands Completes Refinancing of $680 Million Senior Secured ... by Business Wire
 
 
 
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