RE:RE:RE:RE:News makes quite a splash.... Debt holders take a haircut..
A. By haircut meaning cut due to ownership exchanged being worth less than prior bonds.. yes, happens all the time. ex Stockholders get 1%, management takes 9% and debtholder in exchange take 90%. Note Ram is trading at about the 1-5% of value.. of course depending on who you ask.
B. Haircut .. meaning that bondholders except less than face, while stock holders retain any/some ownership. No, I don't think I have ever seen that.
Now.. I guess B could be possible if debt was only secured by part of company assets/subsidiaries or debt was from a prior company that merged into and debt was not assumed by acquiring company.. this would be a very strange situation.. and not one I have ever seen.
Don't think as a bond holder you can take a haircut directly without stockholders getting 0 or very little.