The information on this blog is provided for general informational purposes and is not legal advice. Information contained in this blog, the comments, or any correspondence with the author or others do not create an attorney-client relationship and are not a substitute for professional legal advice from a licensed attorney in your jurisdiction.
Apparently now is the time when I'm supposed to do my taxes. I always do mine on October 15, the very last day before the automatic extension expires, but the Google Trends chart below for "turbotax" searches suggests most people procrastinate less.
The SEC has published a new set of guidelines for debt tender offers. The guidelines revise a set of no-action letters that have been issued over the years allowing issuers to complete debt tender offers without keeping them open for 20 business days under 14e-1(a) and/or without keeping them open for 10 business days after changing the consideration under 14e-1(b).
The new guidance opens the abbreviated procedure to high-yield issuers who previously could not take advantage of the exception. On the other hand, the new guidance imposes some additional obligations on issuers of investment grade debt.