Money Stuff: The Podcast · Friday, October 23, 2026
Matt Levine and Tyce Brown discuss the ongoing legal battles surrounding Electronic Arts bonds following an LBO, where bondholders are seeking 101 puts while the company attempts to defease the bonds.
“And then they got bought out in an LBO. And so the bondholders are like, well, you got bought out in an LBO, you got downgraded, probably. And so that triggers a 101 put.”
“Can't you imagine a trial like your honor? They're getting all the payments. If the U.S. Government still pays dollars on treasury bonds, they're going to get all the payments. Where's the damage?”