A/B exchange offer

A/B exchange offer
USA
A registered exchange offer in which the issuer issues new registered securities (usually non-convertible debt) with terms identical to original securities issued in a private placement and offers the new securities to the holders of the original restricted securities in exchange for those original securities. The A/B exchange offer provides freely tradable securities to those investors that participate.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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