Matt Levine, Columnist

Bond Covenants and Skeptic Skepticism

Also antitrust, bitcoin, unicorns, buybacks and liquidity.

January 12, 2017 at 9:23 AM EST

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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Covenants.

I used to build and sell bonds -- convertible bonds, but still -- and it was always a bit of an event when investors actually read the terms of the bonds they were buying. Every so often one would call me up:

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