Lakshmi Iyer, CFA

Credit

<p>We have examined  the impact of  change of control clauses across various companies' bonds (<a href="https://www.smartkarma.com/entities/softbank-group-corp" target="_blank" data-smartkarma-citation="entities:315:1" rel="noopener">Softbank Group (9984 JP)</a> , <a href="https://www.smartkarma.com/entities/future-retail-ltd-4b025726-3be6-41e3-9f59-22ab2a17a8b2" target="_blank" data-smartkarma-citation="entities:26799:1" rel="noopener">Future Retail (FRETAIL IN)</a> and <a href="https://www.smartkarma.com/entities/car-inc" target="_blank" data-smartkarma-citation="entities:942:1" rel="noopener">Car Inc (699 HK)</a> in terms of market reactions and non-reactions.  Given the current scenario, we think investors should keep an eye on the stock prices of issuers as well as promoters' shareholding data, wherever possible.</p>

We have examined  the impact of  change of control clauses across various companies' bonds (Softbank Group (9984 JP) , Future Retail (FRETAIL IN) and Car Inc (699 HK) in terms of market reactions and non-reactions.  Given the current scenario, we think investors should keep an eye on the stock prices of issuers as well as promoters' shareholding data, wherever possible.

Change of Control Clauses - Adding to Volatility