The deal announced by the Blue Dogs the next day acknowledged this concern by raising the thresholdbelow which firms would be exempted from the mandate.
This created a peculiar incentive: at least one study suggests that firms just below the threshold began disbursing unusual amounts of cash to shareholders and making fewer investments.
Tenet Healthcare and Denbury Resources this week became the latest high-yield issuers to capture coupon rates that were below the 5% threshold, and in doing so they logged some new records.
He was rewarded for this with 260 votes, which is 47.7 percent, which is far below the 75 percent threshold but it is enough to suggest that he might garner enough support in the next several years.