Which of the Following Is a Typical Bond Covenant Restriction

Multiple Choice

Which of the following is a typical bond covenant restriction on the issuance of new debt?

A) New debt must have a lower coupon payment than existing debt.
B) No new debt can be issued until existing debt has been paid.
C) New debt cannot mature before existing debt.
D) New debt must be offered at a discount.
E) New debt must be subordinate to existing debt.