Legal Guidance and Research / Experts / Shruti Dusaj
Shruti Dusaj#13221

Shruti Dusaj

Freshfields
Shruti is a senior associate in Freshfields’ global transactions group with a particular focus on high yield bond offerings. Shruti regularly represents issuers, underwriters and creditors in connection with high-yield bond offerings, debt restructurings, liability management exercises, LBO financings and other corporate finance transactions, across a range of jurisdictions. Shruti’s practice also includes advising issuers and underwriters on equity offerings, including IPOs.

Practice Area

Panel

  • Contributing Author

Qualifications

  • Bachelors of Science in Foreign Service (2011)
  • Juris Doctor (2013)

Education

  • Georgetown University (2011)
  • University of Michigan (2013)

1 Contributions by Shruti Dusaj

Key features of investment-grade, high-yield and crossover bonds: yields, covenants, maturities, guarantees and regulatory considerations
PRACTICE NOTES
Key features of investment-grade, high-yield and crossover bonds: yields, covenants, maturities, guarantees and regulatory considerations
What are investment-grade, high yield and crossover bonds? Investment grade (IG) bonds are debt instruments that hold an IG credit rating: BBB and above on the S&P and Fitch scales, and Baa3 and above on the Moody’s scale (for further detail on credit ratings, see Practice Note: Credit ratings). IG issuers are usually sizeable blue‑chip corporates—well‑known, well‑established and well‑capitalised—and are often companies with shares listed on a major stock exchange. Aside from sovereign bonds of developed markets, IG securities are widely regarded as among the safest income‑generating investments. As a consequence of this perceived safety, IG bonds tend to offer lower yields than high yield (HY) bonds. Many institutional investors and pension schemes operate policies and mandates that constrain their bond holdings to assets with, on average, lower default risk, such as IG instruments or government obligations. In broad terms, HY bonds encompass all bonds from issuers rated below IG. HY issuers may include public companies that lack (or previously had but later lost) an IG rating, private companies or acquisition...
Banking & Finance
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