Citibank, N.A. v. Norske, et al.: Exchange-Offer Refinancing Not a "Financing" For Purposes of Indenture Agreement | Practical Law
In Citibank, N.A. v. Norske, et al., the US District Court for the Southern District of New York held that an exchange-offer refinancing in which unsecured notes were exchanged for secured notes, encumbering certain previously unencumbered assets, could not be considered a financing for purposes of an indenture agreement.