13 C.F.R. § 107.1585 Exchange of Debentures for Participating Securities.
Title 13 - Business Credit and Assistance
You may, in SBA's discretion, retire a Debenture through the issuance of Participating Securities. To do so, you must: (a) Obtain SBA's approval to issue Participating Securities; (b) Pay all unpaid accrued interest on the Debenture, plus any applicable prepayment penalties, fees, and other charges; (c) Have outstanding Equity Capital Investments (at cost) equal to the amount of the Debenture being refinanced; and (d) Classify all your existing Loans and Investments as Earmarked Assets. [63 FR 5869, Feb. 5, 1998]
Title 13: Business Credit and Assistance
PART 107—SMALL BUSINESS INVESTMENT COMPANIES
Subpart I—SBA Financial Assistance for Licensees (Leverage)
Participating Securities Leverage
§ 107.1585 Exchange of Debentures for Participating Securities.
