Series: How to Read a Bond Indenture — A Value Investor’s Framework Introduction Most of a bond indenture describes normal times.Event-risk provisions exist for abnormal times. They activate only when: These clauses are rarely discussed in bull markets. But in stressed markets, they often determine whether a bondholder exits at par or rides the position … Continue reading Post #6 —Event Risk & Trigger Clauses: The Parts of the Indenture That Save You When Things Break