Windstream Services, LLC · Bankruptcy · 2019 · 8.625% Senior First Lien Notes due 2025
Does the instrument meet the Transferable characteristic?
Verified answer
Basis. No clause restricting transfer (such as a required issuer consent) was found in the documents. Rule 144A and Regulation S legends are disregarded under the Definitions.
Source clauses
Decided by absence: no clause restricting transfer (such as a required issuer consent) was found. Rule 144A and Regulation S legends are disregarded under the Definitions.How it was checked · 2 checks
- Rule re-applied. The Transferable rule (v1.0), re-applied to the stored facts, gives the same result as the Mastermind v3 run of 2026-09-26.
- Absence confirmed. The record contains no clause restricting transfer (such as a required issuer consent); a separate heuristic extractor finds no such clause either.
Transferable
The obligation (other than a loan) must be transferable to institutional investors without any contractual, statutory or regulatory restriction; Rule 144A and Regulation S restrictions are disregarded, and consent requirements on loans are separate characteristics.
These checks are CDSBench's provisional reading of the 2014 ISDA Credit Derivatives Definitions, not legal advice.
Instrument: 8.625% Senior First Lien Notes due 2025
Source documents
The case record. Sections behind the verified answer are marked.
- DOC-1 Windstream Holdings / Windstream Services 8-K filed 2019-02-28, Item 1.03 Bankruptcy, petition 2019-02-25excerpts
- DOC-2 Indenture dated November 6, 2017, 8.625% Senior First Lien Notes due 2025 (EX-4.1)excerpts
Related questions and cases
Same case
- #1 Is the instrument a Deliverable Obligation for this credit event, on 7 checks: the Reference Entity is a jointly and severally liable co-issuer; the Maximum Maturity (30 years), Specified Currency, Not Subordinated, Not Bearer and Transferable characteristics; and Not Contingent?Eligible
- #2 Does the instrument meet the Maximum Maturity characteristic (30 years)?Yes
- #3 Does the instrument meet the Specified Currency characteristic (USD, EUR, JPY, GBP, CHF, CAD)?Yes
- #4 Does the instrument meet the Not Subordinated characteristic?Yes
- #5 Does the instrument meet the Not Bearer characteristic?Yes
- #6 Is the instrument Not Contingent (principal not reducible for a reason other than payment)?Yes
- #8 Is the instrument an obligation of the Reference Entity (as a jointly and severally liable co-issuer)?Yes
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